• BTC could reach $38,838.75 in the near future, according to the handle-cup pattern
• BTCUSDT is the timeframe for price predictions.
• The pattern appears to be mostly right, so we can expect a bullish run by BTC.

BTC (BTC), one of the cryptocurrency that suffered from the market decline, saw its price drop to $33,184 in 90 days. Its Cup and Handle Chart pattern suggests that it is likely to experience a bullish run, which would make it trade as high as $38,838.75.

What’s the Cup and Handle Chart Pattern?

These are the key facts you need to know about handle charts and cups:

• It’s a continuation bullish chart pattern.
• It forms the cup after a bullish run. The handle forms when it consolidates.
• The cup’s bottom should support the cups top, while its top should resist.
• The next breakout will occur after the consolidation around the handle. It should fill at most the space between the top of the cup and the bottom.

Cup and Handle Chart pattern for BTCUSDT for 1H

Chart Pattern of the BTCUSDT Cup & Handle Charts (Source: tradingview

Below is a chart showing the Bitcoin support and resistance levels in 1 hour. BTC was trading at $33210.57 support level before it reversed, and trades at $36,024.66 resistance 1. This resulted in traders making a profit $2,814.09 before consolidation.

The resistance-support line is marked by a cup shape. This indicates that BTC may continue its bullish trend to at least the same profit margin as the support level. This would result in BTC trading at $38,838.75 (36,024.66 +42.814.09).

The handle and cup chart patterns are mostly accurate, so the BTC price would trade soon at $38,838.75

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