Bitcoin Bulls Aim for New Price Highs

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Celebrations are everywhere this week as BTC/USD passes $120,000 for the first time in a giant surge higher.

All-time highs now sit at $122,600, with the weekly candle locking in $10,000 of upside

After two months of consolidation, price discovery came thick and fast, but commentators are already wondering how much fuel is left in Bitcoin’s tank.

“It’s taken 44 months for this massive Cup & Handle pattern to develop on the $BTC chart, and price is now just 2% away from the target I identified in May 2024 when the cup first formed,” Keith Alan, co-founder of trading resource Material Indicators, wrote in a post on X.

Alan acknowledged that “a lot has changed” since then, and Bitcoin is in a completely different place as a macro asset.

“Hence, I believe price will go higher before we reach the cycle top,” he added.


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