Bitcoin has formed a promising cup and handle pattern on the weekly chart. Currently, the price is trading within the handle and appears poised for a breakout. A confirmed breakout from the handle could propel Bitcoin's price above 100K.
The handle formed during the correction period following the Bitcoin halving, which was anticipated. Fundamentally, a bull run is expected during the last quarter of 2024 and the first quarter of 2025, which suggests a natural price increase. Breaking the previous all-time high around 73K would further drive the price upward, with my target for this bull run set at 140K.
For a safer trade, consider entering after a breakout above 73K. For those seeking an early entry, you can buy at the current price and hold until the peak of the bull run.
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