Trusted editorial content reviewed by leading industry experts and experienced editors. Ad Disclosure
A crypto analyst has just identified a singular one Cup and handle formation on the Bitcoin price chart, mirroring the precise pattern silver exhibited just before its historic rally in 2017. At the time, the analyst said Silver's breakout of this key structure had triggered a pointy price adjustment as buyers flooded the market. With BTC now following the same pattern, he suspects the leading cryptocurrency could soon break out of its cup-and-handle structure and see an explosive move.
Bitcoin reflects silver’s pattern before the 2017 rally
Since the 2021 bull cycleBitcoin has formed a cup-and-handle pattern that extends into 2025 and what it looks like now able to explode in 2026. Crypto analyst Merlijn the Trader shared a video chart evaluation comparing Bitcoin's current pattern to silver's long-term cup-and-handle structure that formed before its legendary rally in 2017.
The analyst noted that Silver spent nearly a decade constructing a broad base, causing many investors to lose interest before The price eventually crossed the $54 mark and rose. Merlijn the trader recalled a conversation in 2017 through which someone predicted that silver would rise to $80, while arguing that a break above $54 would open the door for a move towards a lower goal range of $70-$75.
At that point, Silver's chart formed a rounded bottom between 2011 and 2023, with a shallow resistance level near its previous high. After breaking through this level, a grip formed that quickly led to a violent revaluation that pushed silver above the range it had been stuck in for years.
Source: X
Merlijn, the trader, said Bitcoin is showing the identical long base and slow rise as silver before its big move in 2017. On the chart is the BTC price bottomed out in the course of the 2022 bear market and has steadily risen towards its previous highs, forming a rounded “cup” that matches the structure of silver. The chart also shows a resistance zone around $70,000, where BTC was repeatedly rejected before finally breaking through. Once the cryptocurrency cleared this level, it formed an uptrend much like the ultimate consolidation that silver made before its explosive move higher.
According to Merlijn the Trader, the pattern is mirrored by Bitcoin Seller exhaustion after an extended period of sideways trading. He explained that after the last sellers are gone from the market, BTC has the liberty to regulate in price just as dramatically as silver did in 2017.
Possible goal for BTC revaluation
In classic technical evaluation, traders often use the peak of the cup in a cup-handle pattern to predict a coin's breakout trajectory. For BTC, this means a possible revaluation goal of $120,000 to $140,000 if the worth unwinds like Silver did in 2017. At the time of writing, the cryptocurrency is trading near $92,000, so reaching this range would require a gain of greater than 30%.
BTC reclaims $92,000 | Source: BTCUSD on Tradingview.com
Featured image created with Dall.E, chart from Tradingview.com
Editorial process At Bitcoinist, the main focus is on providing thoroughly researched, accurate, and unbiased content. We maintain strict sourcing standards and each page is fastidiously reviewed by our team of top technology experts and experienced editors. This process ensures the integrity, relevance and value of our content to our readers.
