Bitcoin is now more than just a typical cryptocurrency. Assets are now gradually emerging as the leading financial players in the market, and can transform the economy if embedded with caution and care. Tokens began to diagram their own paths along the way, focusing on new price milestones. Bitcoin has recently shown new patterns on its charts, indicating a new price surge is imminent for tokens.
Is Bitcoin already aiming for a new price target?
Bitcoin has recently claimed its coveted $120,000 price mark. This development had gained positive price momentum in the market. However, due to the large amount of liquidation, the token stabilized around $114,000 at press time for each CMC data. This is enough for the token to construct a new path.
BTC’s charts now show the formation of major cups and handles, and generally predict future bullish gatherings, according to Anderson, a notable cryptocurrency expert.
“Cups and handles are patterns that can be observed when an asset’s price reaches a certain level and pulls back before it can be regained. Changelly later shared about the cup and handle pattern
The cup and handle formations show a new BTC top, perhaps helping Bitcoin rise and hit the coveted $123,000 mark, according to Anderson.
“#BTC Cup & Handle Price Minimum Target = $123,000. As mentioned at 16K$16K in the “The Bottom Is In” video, #Bitcoin loves the cups and handles.
#BTC Minimum target for cup & handle price = $123,000
As mentioned in my “The Bottom Is In” video for $16K, #bitcoin I love her cup and handle
Now we can see the end of this pattern and she is beautiful. It’s fun that she’s nice enough to play together
We’re all going to make it! pic.twitter.com/1pao2zhrmv
– Anderson (@truecrypto28) November 1, 2024
Bitcoin Price Pass for August
According to data from Concodex BTC, the assets could stabilize around $113,000 by the end of August 2025.
“According to current Bitcoin price forecasts, Bitcoin prices are projected to fall by -0.89% by September 3, 2025 to $113,736. Technical metrics show that the current sentiment is neutral, but the fear and greedy index shows 64 (cultivation).
