Bitcoin Cup and Handle

19 Feb 2020

Bitcoin is about to break out bullishly from a four month cup and handle. This price action would coincide nicely with the halving in May of this year. A bullish breakout from this pattern could bring us easily to $13,000 (as the low of the cup was around $6,500, about $3,500 difference from where we are today). I expect, however, that bullish sentiment regarding the halving would push us beyond $13,000 at that point. It would also be similar price action to what we have seen leading up to previous halvings, where we have approached the previous all time high near the halving, fell, and then rallied to new all time highs 3-6 months after the halving.