September is traditionally considered an unfavorable month for bitcoin, but this year everything may change. According to the latest technical analysis data, bitcoin may exceed expectations and show impressive growth. The so-called «cup with a handle» pattern, which has been observed on the bitcoin chart for three years, attracts the most attention. This recognized bullish graphical pattern indicates a rapid and large-scale growth that can raise bitcoin to $110,000. The formation of the «cup with a handle» model began after bitcoin fell from a historical high of $69,000 to a low of $15,500. This fall created a «bowl» — a rounded bottom, signaling a gradual recovery of the market. The subsequent impressive rally led bitcoin to a new historical high of $73,800. Currently, the price is in a consolidation phase, which, according to analysts, prepares the ground for the next powerful upward movement. Despite the sad story of September for bitcoin, all signs indicate that this year may be an exception. The massive price spike predicted by the «cup with a handle» shape will give investors hope after a difficult year.
PAUTAN SEGERA
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