Bitcoin Cup-And-Handle Pattern Suggests Bull Target Remains At $300,000 - Details

Trusted Editorial content, reviewed by leading industry experts and seasoned editors. Ad Disclosure Popular market analyst Gert Van Lagen has audaciously backed Bitcoin (BTC) to hit the $300,000 price mark amid the current bull run. Van Lagen’s prediction comes a few days after establishing a new all-time high at $111,970, signaling a strong bullish intent to maintain the current price uptrend

Over the past week, the premier cryptocurrency registered a modest price gain of 5.35% as news of US President Donald Trump recommending a 50% tariff on imports from the European Union (EU) forced a slight price retracement.

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In an X post on May 24, Gert Van Lagen shares that BTC price action since the last cycle in 2021 has resulted in a cup-and-handle formation, suggesting the digital asset is on the edge of a major price breakout.

For context, the cup-and-handle represents a major bullish continuation pattern that indicates a potential upward breakout. In Bitcoin’s case, the cup forms between late 2021 and early 2024, as price action created a rounded bottom, reflecting a decline from a former all-time high around $69,000, followed by a period of stabilization and recovery, culminating in a return to that key level.

After attaining this prior high, price movement pulled back, forming a downward or sideways channel known as the handle, setting the stage for a price breakout. This is well reflected in Bitcoin’s price action from early 2024 to Q3 2024.

Source: @GertvanLagen on XNotably, Bitcoin has since achieved this breakout from the cup-and-handle formation by crossing the critical market resistance at $69,000. Based on linear calculations, Gert Van Lagen explains the flagship cryptocurrency is expected to hit a price target of $120,000-$130,000 — a projection now within Bitcoin’s reach, considering the current market momentum

However, Van Lagen also notes that the cup-and-handle pattern also points to an exponential price target of $300,000. Historically, BTC has previously achieved such logarithmic targets with gains of 100x from 2013-2017, and 21x from 2018-2021

Furthermore, the new weight of institutional capital, especially following the approval of spot Bitcoin ETFs in 2024 supports this bullish outlook. However, while this institutional participation signals long-term confidence, it also reflects BTC’s maturation. Now a $2 trillion asset, Bitcoin’s sheer size may make parabolic moves less frequent, even though crypto market volatility still leaves the potential for significant upside.

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At the time of writing, Bitcoin trades at $107,794 following a minor 0.64% gain in the past day. On the monthly chart, the premier cryptocurrency reports gains of 16.25% as the bull market persists.

BTC trading at $107,741 on the daily chart | Source: BTCUSDT chart on Tradingview.comFeatured image from iStock, chart from Tradingview Editorial Process for bitcoinist is centered on delivering thoroughly researched, accurate, and unbiased content. We uphold strict sourcing standards, and each page undergoes diligent review by our team of top technology experts and seasoned editors. This process ensures the integrity, relevance, and value of our content for our readers.