According to CryptoPotato, Bitcoin has recovered to $57,000 after a dip below $54,000, with analysts predicting a potential bull run that could reach $123,000. This rally comes after a challenging period for Bitcoin bulls, as the asset's price briefly fell below $54,000 for the first time in five months. Despite this, the cryptocurrency managed to recover some of its losses over the weekend and is currently trading around $57,000, marking a 9% drop on the weekly scale. Several industry participants believe another bull run could be on the horizon. An analyst, known as BATMAN, has suggested that the Bitcoin price chart is forming “a huge cup and handle pattern.” This pattern, if it plays out as expected, could see Bitcoin's price target reach $123,000, indicating substantial upside from current levels. The “cup and handle” is a technical chart pattern often used to identify potential bullish momentum in various markets, including cryptocurrencies. The “cup” signals a period of consolidation or a rounded bottom, followed by the “handle,” typically a downward-sloping channel. Some traders believe that the appearance of this formation could indicate a great buying opportunity
#binancenews #BinanceSquareFamily $BTC
