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Coin Edition 2025-01-30 14:26:46

Bitcoin Breaks Out of Long-Term Cup and Handle Formation, Targeting $125,000

Bitcoin Breaks Out of Long-Term Cup and Handle Formation, Targeting $125,000

Bitcoin has confirmed a breakout from a large cup and handle pattern. The measured move target for the breakout is $125,000. After a brief consolidation, analysts expect another upward move. Bitcoin (BTC) has broken out of a long-term cup and handle formation, a technical pattern that suggests a strong bullish continuation. According to crypto analyst Mags on X, the measured target for this breakout stands at $125,000. The price pattern, which began forming in 2021, saw BTC recover from a deep correction, forming a rounded bottom before recently breaking through resistance. Mags suggested this classic technical setup historically indicates further upside as buyers regain control after a period of accumulation. The breakout occurred as BTC surged past its previous resistance level of around $70,000, confirming the pattern’s validity. Following the breakout, a brief period of consolidation has kept prices around the $100,000 mark. Now, analysts like Mags project a continuation to the lofty $125K price point. Bitcoin Jumps to $105,000 as Fed News Calms Markets As of this press time, Bitcoin surged to $105,066 following the Federal Reserve’s decis… The post Bitcoin Breaks Out of Long-Term Cup and Handle Formation, Targeting $125,000 appeared first on Coin Edition .

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