Bullish Bitcoin Pattern Is Revealed – How High Can Bitcoin Go

There’s a bullish Bitcoin pattern revealed these days. Check out the following reports about this.

Multiple crypto analysts believe that the current Bitcoin (BTC) correction is actually “extremely bullish” with BTC up 0.9% in the last week.

In a new YouTube video, the anonymous host of InvestAnswers revealed a chart from crypto-focused hedge fund Swissblock that suggests BTC could be forming a cup-and-handle pattern, a bullish technical indicator.

Swissblock analysts said the following:

“The cup-and-handle pattern is still in play. The neckline break has happened – and it is quite normal to see a retest of the neckline area before the price moves higher. We have that setup now, only the current wave (2) is developing in an “Extended Flat”. This is bullish and the move seems to be coming to an end.”

Swissblock’s analysts believe Bitcoin will make a final push down to $26,500 “in the coming days.” He acknowledged that BTC could go as low as $25,200 in the worst-case scenario.

At the moment of writing this article, BTC is trading in the red and the king coin is priced at $29,202.

Crypto analyst Jason Pizzino is urging caution on Bitcoin (BTC). This is happening amid an uptick in the price of the flagship crypto asset.

Pizzino recently said that Bitcoin is unlikely to hit new highs after rallying by about 5% from its April low.

“I don’t think we’re out of the Woods here, I don’t think we are about to go up into new highs because we haven’t broken past this level at $28,500 and the 50% [Fibonacci retracement level] level.”

The crypto analyst believes the fact that Bitcoin still needs to get back above those levels for the short-term strength to come into the market so it can attempt to break $30,000 and $31,000 again. Stay tuned for more relevant news.