- Bitcoin’s breakout from a 4-year cup and handle pattern sets the stage for a bullish move targeting $320,000 in the coming cycle.
- Strong support above $105K and whale accumulation signal continued momentum as Bitcoin eyes $120K before its projected $320K surge.
- Multi-year technical structure confirms bullish dominance as rising volume and steady momentum fuel Bitcoin’s long-term price breakout.
After emerging from a multi-year cup and handle formation on the weekly chart, Bitcoin looks ready for a surge. The price has dropped from recent highs of almost $112,000 and is now trading close to $105,500, stabilizing above support. A bullish pattern suggested by technical analysis could move Bitcoin closer to its $320,000 target. Based on a measured move from the cup’s depth, this prediction suggests substantial upside if bullish momentum continues.
Multi-Year Structure Signals Massive Upside Potential
The handle and cup design runs from 2021 to 2025. Following the peak of Bitcoin in 2021, the cup started to take shape. The base was established during 2022 and the first part of 2023 after a dramatic correction. During this time, price action fluctuated a lot and established solid support close to $15,000.
Source: Bitcoinsensus
Recovery took shape in late 2022. Bitcoin climbed steadily through 2023. By 2024, the handle began to form, showing healthy consolidation and occasional volatility. This setup laid the foundation for a powerful breakout that initiated in late 2024.
The breakout propelled Bitcoin above key resistance zones, igniting the markup phase. Historically, this phase supports explosive price movements. Volume trends confirmed the breakout, with increased buying pressure validating the technical structure. Moreover, strong momentum patterns remain intact on the weekly chart, adding further confidence.
$320K Technical Target Aligns with Market Momentum
The pole measure technique highlights the potential target of $320,000. This is based on the vertical distance from the cup’s low to its high. That projection, added to the breakout point, gives the anticipated upside. Additionally, the inset chart shows a smaller version of this pattern, reinforcing the macro breakout’s credibility.
Besides, Bitcoin’s market structure remains bullish despite recent pullbacks. Current support at $105,000–$108,000 is holding firm. If whale accumulation continues, the next key target is $120,000. Hence, sustained bullish pressure could push prices beyond that level quickly.
