Cup and Handle Pattern Supports Bullish Case
What makes this moment even more intriguing is the chart formation that has been quietly developing over the past cycle: a textbook cup and handle pattern. This classic bullish continuation signal has been forming over a long period, adding weight to its reliability.
If Bitcoin successfully breaks above the trendline and completes the handle portion of the pattern, the implications could be huge. Technical analysts often use Fibonacci extensions to project potential targets after such breakouts—and in this case, the 1.618 Fibonacci confluence aligns near $130,000.
This confluence of multiple bullish signals—a multi-year trendline, a well-formed pattern, and key Fibonacci levels—could push Bitcoin into a new price discovery phase.
Bitcoin is eyeing a big breakout here.
— Lark Davis (@TheCryptoLark) October 2, 2025
That multi-year trendline from 2017 is the key.
If it breaks, the cup & handle pattern from the last cycle + 1.618 confluence both point to a target around $130K. pic.twitter.com/ufCbShWFRd
What Comes Next for Bitcoin Price Action?
Of course, no breakout is guaranteed. Traders will be watching for volume confirmation and retests to validate any move above this resistance. A failed breakout could lead to consolidation or a pullback, but the technical setup currently leans in the bulls’ favor.
With market sentiment slowly shifting and on-chain metrics showing accumulation, Bitcoin’s path toward $130K is becoming a real possibility—if, and only if, it can break through this historic barrier.