InvestAnswers: BTC Price Pattern Almost Complete, Suggests Big Upside

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

The anonymous host of InvestAnswers provides a chart from crypto-focused hedge firm Swissblock that implies BTC may be creating a bullish cup-and-handle pattern in a new YouTube video.

Swissblock analysts,

“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 a “Extended Flat”. This is bullish and the move seems to be coming to an end.”

Swissblock analysts expect Bitcoin to drop to $26,500 “in the coming days,” with a worst-case scenario of $25,200.

InvestAnswers’ host informs his 443,000 YouTube viewers that Bitcoin’s cup-and-handle pattern objective is $35,000 to $42,000.

BTC is currently $28,880. The top cryptocurrency by market size is up 1.83% in 24 hours and roughly 74% since 2023.