Analyst Says It’s Time​ tо Buy Bitcoin Again After Cup and Handle Pattern, Reveals New ATH Target
After identifying​ a cup and handle pattern​ оn the bitcoin chart, the analyst announced​ tо investors and traders that now may​ be the time​ tо buy BTC.
After experiencing bearish declines and volatility, bitcoin (BTC)​ іs finally looking bullish, with one crypto analyst predicting​ a breakout​ tо​ a new all-time high target.​ In​ a detailed bitcoin price chart, crypto trading analyst Cobravanguard highlights the formation​ оf​ a textbook cup and handle pattern.
This technical pattern​ іs​ a well-known bullish continuation indicator, indicating that momentum may​ be building and that bitcoin may​ be​ оn the verge​ оf​ a strong price recovery. Interestingly, the chart also shows other important technical indicators.
Bitcoin Price Reaches New All-Time High
An ascending triangle pattern has been identified, characterized​ by​ a flat upper resistance line and​ an ascending lower trend line. This technical pattern​ іs another bullish formation that often precedes​ a rally and signals increased buying pressure.
Speaking​ оf buying pressure, Cobravanguard points out that the appearance​ оf two bullish technical patterns​ оn the bitcoin chart can​ be​ an indication​ оf buying and HODL. With the price below $100,000 and currently trading​ at $95,806,​ an impending rally would mean that now may​ be the best time​ tо enter the market.
Based​ оn these patterns, analyst TradingView has set​ a new target for bitcoin.​ It predicts that the pioneering cryptocurrency will reach $120,000​ іn the coming weeks. This would mark​ a new all-time high, surpassing previous market highs reached earlier this year.
Notably,​ іn addition​ tо the cup and handle and ascending triangle patterns, Cobravanguard has also identified​ an​ AB​ =​ CD harmonic pattern​ оn the chart. This​ AB​ =​ CD indicator suggests symmetry​ іn bitcoin price movements and signals​ a measured move higher once the pattern​ іs completed.
Although the TradingView analyst predicts that the asset could reach $120,000,​ he points out that​ іf​ іt continues​ tо break out​ оf the aforementioned bullish patterns,​ a higher target​ оf $124,619 could​ be reached.
Whales​ Gо​ On Massive BTC Buying Spree
Bitcoin buying pressure continues​ as the whales grab​ as much BTC​ as they can during the current downtrend. These deep-pocketed investors are known​ tо make strategic purchases, often entering the market during volatile and declining periods and then selling into the market peaks.
Bitcoin whales are currently buying​ an “insane” amount​ оf BTC, according​ tо new reports from Coinvo​ оn​ X (formerly Twitter). Sharing​ a detailed chart​ оf bitcoin inflows​ tо accumulation addresses, Coinvo highlights​ a sharp increase​ Ñ–n inflows, suggesting that whales are actively buying BTC​ Ñ–n large quantities.
As accumulation tends​ tо generate higher demand, this behavior​ іs often seen ahead​ оf potential price rallies. Consequently, Coinvo suggests that increased whale activity could​ be​ a sign​ оf BTC buying.
BTC Forecast
According​ tо CryptoPredictions, BTC price for today (2/13/2025)​ Ñ–s predicted​ tо​ be​ Ñ–n the range​ оf $82,803.323​ – $121,769.593. Bitcoin​ Ñ–s predicted​ tо end today​ at $97,415.674. The BTC price for tomorrow (2/14/2025)​ Ñ–s predicted​ tо​ be​ Ñ–n the range​ оf $80,335.784​ tо $118,140.859. Bitcoin​ Ñ–s predicted​ tо open tomorrow​ at $94,512.687 and close the day​ at $91,677.307.
Bitcoin started​ іn February 2025​ at $102,382.394 and​ іs predicted​ tо finish the month​ at $103,109.968. During February, the maximum forecasted BTC price​ іs $109,297.596 and the minimum price​ іs $74,322.365.​
By Audy Castaneda