A crypto analyst has identified some distinct characteristics. Forming the cup and handle The Bitcoin price chart closely mirrors the pattern silver exhibited just before its historic rally in 2017. An analyst at the time said: silver breakout This critical structure caused buyers to flood the market, causing intense price increases. BTC is currently following a similar pattern, and he suggests that the major cryptocurrency could soon break out of its cup-and-handle structure and experience an explosive move.
Bitcoin mirrors 2017 pre-rally silver pattern
Since then 2021 Bullish CycleBitcoin has formed a cup and handle pattern that has been extended to 2025 and now looks like this: Ready to explode in 2026. Crypto analyst Marlin the Trader shared a video chart analysis comparing Bitcoin’s current pattern with the long-term cup-and-handle structure that silver formed before its legendary rally in 2017.
analyst noticed Silver spent nearly a decade building a broad base that caused many investors to lose interest. The price finally broke through the $54 level and rose further. Trader Merlin recalled a conversation in 2017 where someone predicted silver would jump to $80, arguing that a breakout of $54 would open the door for a move towards the lower target range of $70 to $75.
At that time, the silver chart was round bottom From 2011 to 2023, resistance levels remain flat near previous highs. After breaking through that level, a handle formed that quickly led to a violent reprice, pushing silver beyond the range it had been trapped in for years.
Trader Marlin said Bitcoin had a long base and slow rise, similar to silver, before making big moves in 2017. BTC price bottomed out in the 2022 bear market It has then steadily risen toward its previous highs, forming a rounded “cup” consistent with the structure seen in silver. This chart also highlights the resistance zone around $70,000 where BTC was repeatedly rejected before finally breaking out. Upon clearing that level, the cryptocurrency formed an uphand handle similar to the last consolidation that silver did before exploding higher.
According to trader Merlin, the Bitcoin pattern is as follows seller exhaustion After a long period of sideways trading. He explained that once the last seller in the market is gone, Bitcoin is free to reprice itself dramatically, much like silver did in 2017.
Possibility of becoming a target of BTC price revision
In classic technical analysis, traders often use the cup height of the cup-and-handle pattern to predict a coin's breakout trajectory. For BTC, if the handle resolves as it did for silver in 2017, this suggests a potential reprice target of $120,000 to $140,000. As of this writing, the cryptocurrency is trading near $92,000, so it would require a gain of over 30% to reach that range.
Featured image created by Dall.E, chart on Tradingview.com
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