Bitcoin cup and handle: key $74K support, $220K target
Bitcoin traders are watching the weekly chart for a completed “Bitcoin cup and handle” pattern, which technical analysts say can trigger a new upside leg if BTC breaks the neckline. The neckline/support zone is highlighted around $65,000–$74,000, with $74,000 described as the key level bulls must defend.
If BTC confirms above the breakout area, the “Bitcoin cup and handle” setup projects an upside move roughly aligned with a ~$220,000 target (with a higher theoretical reading up to ~$295,000 also cited). A breakdown below $74,000 would weaken the medium-term bullish thesis and likely delay the rebound.
The article also notes deteriorating spot volumes: Binance spot volume fell about 81% since Oct 2025 (to ~$36.4B), with similar declines on Gate.io and Bybit. CryptoQuant frames this as late-stage bear-market behavior, suggesting selling pressure may be fading.
ETF flow context is added: past periods of sharp Bitcoin spot ETF outflows have sometimes coincided with buying opportunities. For trading, the plan is straightforward—hold above $74,000 first, then look for a confirmed breakout from the neckline area before leaning long on the Bitcoin cup and handle path.
Bullish
The news is tilted bullish for BTC because the weekly “Bitcoin cup and handle” pattern is described as completed and has clear, actionable confirmation logic: hold $74,000 and then break the neckline. The downside risk is explicitly defined—loss of $74,000 would weaken the thesis—so the setup is conditional rather than blindly optimistic. Although spot volumes are falling sharply (often consistent with late bear-market conditions), CryptoQuant’s framing implies selling pressure may be easing, which can support the rebound attempt. Overall, the balance favors a potential upside catalyst for BTC if the $74K level holds and the neckline breakout is confirmed.