Sen informed his 270,000 X followers on Thursday that Bitcoin has simply accomplished a multi-year cup-and-handle sample with a breakout and excellent retest. This construction, which took years to construct, has now been confirmed, he added.
“Cup-and-handle breakouts don’t transfer 20%, the transfer lots of of %,” he mentioned earlier than making a daring worth prediction.
“The launch is subsequent … $220K is the minimal goal.”
Earlier Patterns Resulted in Massive Breakouts
The cup and deal with is a basic bullish continuation sample in technical evaluation. It resembles a teacup on a chart, and a breakout above the deal with’s resistance usually alerts sturdy upside, with a measured goal equal to the cup’s depth added to the breakout level.
I’M SORRY, BUT NOBODY IS TALKING ABOUT WHAT BITCOIN JUST DID.
MULTI-YEAR CUP AND HANDLE. COMPLETE.
BREAKOUT. DONE.
PERFECT RETEST. DONE.
STRUCTURE CONFIRMED. DONE.THIS PATTERN TOOK YEARS TO BUILD.
AND NOBODY NOTICED.
CUP AND HANDLE BREAKOUTS DON’T MOVE 20%.
THEY MOVE… pic.twitter.com/hK6LlNZk0X— Vivek Sen (@Vivek4real_) July 30, 2026
Bitcoin has shaped this sample beforehand, usually previous main rallies. Through the 2020 to 2021 cycle, a multi-month cup shaped from 2019 highs all the way down to the 2020 low, with a deal with in summer time 2020. The breakout led to the run towards the height at $69,000 in November 2021. By means of 2022 and 2023, Bitcoin shaped an enormous, rounded backside on the weekly chart as institutional accumulation picked up.
By early 2024, the value consolidated within the $60,000 to $69,000 vary, forming the deal with, earlier than an explosive breakout to over $100,000. Nonetheless, there could also be a bit additional to go together with this deal with, as many analysts have focused October as the underside and cycle inflection level.
Swissblock reported that Bitcoin’s Threat Index peaked in late June earlier than transitioning into low threat, “permitting promoting stress to ease and worth to stabilize.”
Nonetheless, a divergence is forming with Bitcoin threat remaining subdued whereas the VIX has returned to the concern zone. The VIX is the CBOE Volatility Index, which is commonly known as the “concern index” because it measures the market’s expectation of 30-day forward-looking volatility within the S&P 500.
A rising VIX usually alerts deteriorating market circumstances that weigh on BTC, whereas a low and steady VIX helps threat urge for food favorable to crypto.
“If the VIX continues rising and Bitcoin Threat reignites, the canary will start singing once more,” mentioned Swissblock.
The $220,000 worth prediction comes simply after one other one, much more bullish, set an enormous goal of as much as $450,000 per BTC. The time horizon for that one is by March 2028.
BTC Value Outlook
Bitcoin has been uneven over the previous 24 hours following the Federal Reserve choice to maintain charges unchanged. The asset tapped intraday highs of $64,500 thrice earlier than retreating to the excessive $63,000 zone through the Thursday morning Asian buying and selling session.
Volatility might enhance because the US has resumed navy strikes on Iran late on Wednesday. “The strikes are a strong response to yesterday’s tried Iranian assaults on US forces primarily based within the Center East,” acknowledged Central Command.
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