Featured image created with Dall.E, chart from Tradingview.com<\/div>\n","protected":false},"excerpt":{"rendered":"
Crypto analyst Jelle has highlighted a bullish pattern that has been forming on the Bitcoin chart for the last three years. The analyst suggested that it could soon be time for the pattern to play out, with a price target of $100,000 and above in sight if it does.\u00a0 3-Year Cup And Handle Pattern Could Soon Play Out For Bitcoin In an X (formerly Twitter) post, Jelle stated that it shouldn\u2019t be long before the 3-year cup and handle pattern on Bitcoin\u2019s chart starts playing out. The analyst suggested this could happen as soon as the fourth quarter of this year and noted that the pattern has a 6-figure range. The accompanying chart showed that Bitcoin could rise above $100,000 and reach as high as $140,000.\u00a0 Related Reading: Solana Liquid Staking Could Touch $18 Billion \u2013 Will It Benefit These Altcoins? Indeed, the fourth quarter of the year is bullish for the flagship crypto, although it remains to be seen if it can rise above $100,000. Bernstein analysts have predicted that Bitcoin would at least reach $90,000 if Donald Trump wins the election. Standard Chartered has offered a more bullish prediction, stating that BTC will get to $150,000 by year-end if Trump wins.\u00a0 However, irrespective of the election’s outcome, its aftermath is bullish for the flagship crypto since it would provide more certainty to the market. Historically, Bitcoin also enjoys positive monthly returns in the last quarter of every halving year. In 2016 and 2020, the flagship crypto enjoyed three consecutive months in the green between October and December. The Fed rate cuts could begin at the next FOMC meeting next week, which will be held between September 17 and 18. This is expected to boost investors’ confidence in investing in risk assets like Bitcoin.\u00a0 Other Reasons BTC Could Rise Above $100,000 Crypto analysts have provided other reasons why Bitcoin could rise above $100,000 from a technical analysis perspective. Titan of Crypto highlighted a Bitcoin bull pennant that is currently forming on the monthly timeframe. He predicted this could send the flagship crypto to as high as $158,000 if it plays out.\u00a0 The crypto analyst had earlier revealed a Golden Cross that had formed on Bitcoin\u2019s 2-month chart. He noted that this bullish pattern has always led to a massive rally for BTC, suggesting that this could happen again. The chart he shared showed that the flagship crypto could reach six figures if this rally were to occur.\u00a0 Related Reading: Cardano Price Prediction: The Roadmap To New All-Time Highs Crypto analyst SalsaTekila has offered a more bullish prediction that Bitcoin could rise above $200,000 in this market cycle. He claimed this price level looks like a \u201ctarget for chickens.\u201d The analyst remarked that the market is structurally different this time as the spot market looks to dominate. He added that this is ultimately bullish as the available supply diminishes.\u00a0 At the time of writing, Bitcoin is trading at around $59,900, up over 2% in the last 24 hours, according to data from CoinMarketCap.\u00a0 Featured image created with Dall.E, chart from Tradingview.com<\/p>\n","protected":false},"author":594,"featured_media":641953,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[5651],"tags":[167,428,656,679,1119,89185,1122,1144,78790,6664,26263,14690],"class_list":["post-641950","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-bitcoin","tag-analyst","tag-bitcoin","tag-bitcoin-news","tag-bitcoin-price","tag-btc","tag-btc-news","tag-btc-price","tag-btcusd","tag-btcusdt","tag-crypto","tag-crypto-analyst","tag-crypto-news"],"acf":[],"yoast_head":"\n
3-Year Cup-And-Handle Pattern Promises To Send Bitcoin Above $100,000<\/title>\n\n\n\n\n\n\n\n\n\n\n\n\n\n\t\n\t\n\t\n\n\n\n\n\n\t\n\t\n\t\n