The “cup and handle” pattern is a classic chart pattern used in technical analysis, which typically indicates a bullish continuation. The pattern resembles a cup with a rounded bottom, followed by a consolidation period, which forms a “handle.” A breakout from this pattern often signals significant upward movement, which Pal suggests could propel Bitcoin into the Banana Zone.
If the Banana Zone scenario is indeed about to happen, the numbers for Bitcoin’s price figure are unimaginable. But to predict something certain on the crypto market is rarely a good idea.
This article was originally published on U.Today
Source: Cryptocurrency - investing.com
