Updated : January 3, 2025

The cryptocurrency market is abuzz with the later developments in Bitcoin ‘s Mary Leontyne Price social movement. Recent depth psychology by crypto expert CryptoJelleNL highlights a Cup and Handle radiation diagram on Bitcoin ‘s chart, indicating a bullish continuation setup with a target area of $ 140, 000 by the conclusion of Q1 2025(2).

Understanding the Cup and Handle Pattern

The Cup and Handle pattern is a technical analysis instrument apply to predict future price movements. In Bitcoin ‘s case, the ” loving cup ” part of the normal signifies an extended geological period of accumulation after the 2021 market tip, conform to by a breakout above the $ 65, 000 resistance level. The ” handle ” section emerged before long later on, characterise by a brief period of trading within a descending communication channel, supply consolidation for former gains and setting the microscope stage for the next exchange(2).

Key Support and Resistance Levels

Bitcoin ‘s current Price action is anchored on strategic support and resistance levels that could prompt the monetary value towards $ 140, 000. The region between $ 65, 000 and $ 68, 000 has go a crucial breakout level, with $ 98, 000 assist as a significant resistance distributor point. Breaking through the $ 100, 000 level could renovate buying delirium and rig the stage for a test of all – time high gear(2).

Marketplace Sentiment and Technical Indicators

Sentiment regarding the BTC market remains positive, indorse by fundamentally and technically motor scene. The Relative Strength Index (RSI) is currently at 50. 83, indicating neutrality, while a Golden Cross supports the bulls. This signal is widely considered a preliminary indication of a future price hike(2).

Possible Scenarios for Bitcoin ’s Price Action

Whether Bitcoin will reach the $ 140, 000 mark depends on its ability to get the better of important resistance point. A successful prison-breaking above $ 98, 000 could lead to a motility towards $ 100, 000, paving the way for a further growth in buying atmospheric pressure. Conversely, give way to fend for $ 68, 000 could put the on-going Cup and Handle formation in question, potentially leading to a more stern retracement(2).

Broader Market Impact

This bullish narrative is not hold to technicals. Financial adviser like Robert Kiyosaki continue to endorse Bitcoin as an investment asset, listing it alongside atomic number 79 and sign as significant investment opportunities. This bullishness on Bitcoin shows the cryptocurrency is lento being go for as a long – term computer storage of economic value(2).

Recent Developments in Other Cryptocurrencies

  • Dogecoin: Spirit Blockchain Capital Inc. has revealed a strategy to earn returns from its Dogecoin holdings, leading to a 6 % price increment. The strategy purpose to maximize Spirit ’s potential difference to utilize Dogecoin to optimize its digital asset exchequer(3).
  • Shiba Inu: Despite overconfident adoption news, Shiba Inu saw a 5. 84 % descent over the past 24 hours, trade in at $ 0. 00002061. The item ’s grocery store cap is $ 12. 14 billion, with a 24 – hour trading volume increase of 20. 31 % to $ 478. 26 million(4).
  • Morgan Stanley: E – Trade, Morgan Stanley ’s online trading program, is reportedly considering offering crypto trading servicing to its customers, labour by increase requirement for digital plus and look for regulative variety(5).

Conclusion

The recent surge in Bitcoin ‘s damage, fire by the Cup and Handle pattern, signals a potential target of $ 140, 000 by the end of Q1 2025. With positive market sentiment and strong technical indicators, Bitcoin ‘s journey towards this milestone is intimately watched by analysts and investor. As the crypto grocery remain to heat up, developing in other cryptocurrencies and traditional financial firms ‘ embrace of crypto assets far underscore the arise significance of digital currencies.

Sources :– (2) https://www. thecoinrepublic. com/2025/01/02/bitcoin-btc-usd-cup-and-handle-signals-140k-target/ – (3) https://www. thecoinrepublic. com/2025/01/03/dogecoin-price-rallies-6-after-spirit-blockchain-announces-this/ – (4) https://www. thecoinrepublic. com/2025/01/01/shiba-inu-coin-price-gains-increasing-attention-will-prices-rally/ – (5) https://www. thecoinrepublic. com/2025/01/02/morgan-stanley-to-offer-crypto-trading-services-report/

Call to Action :Apportion your opinion on Bitcoin ‘s potential to reach $ 140, 000 and the broader implication for the crypto marketplace in the commentary infra. For more update on cryptocurrency news and analytic thinking, visit The Coin Republic.