Bitcoin cup-and-handle targets $220K; $74K support must hold

Bitcoin’s weekly chart completed a multi-year cup-and-handle pattern that sets a minimum price target near $220,000, according to technical analysis. The pattern resolved after a breakout above the handle’s resistance. Measured targets from price models put potential upside higher, with one calculated target near $295,000 and a logarithmic channel projecting about $255,000 by year-end and up to $308,000 in 2027.

Bitcoin has risen roughly 30% from its Feb. 6 low below $60,000. The price recently retested the cup’s neckline in the $65,000–$74,000 area. Technical analyst Crypto Tice wrote on X that “the retest just finished” and described $220K as a minimum target. Trader VeLLa Crypto posted that the pair “must hold” the $74,000 area and warned that a decisive break below would indicate bears regained control.

Spot trading activity has declined sharply. Data from CryptoQuant shows Binance’s reported spot volume fell to $36.4 billion, down 81% from $198.6 billion in October 2025. Gate.io volume decreased about 79.6% and Bybit about 66% over the same period.

On-chain analyst Darkfost wrote that the drop in spot volume largely reflects an unfavorable macro environment for risk assets and added that the decline can be read constructively because selling pressure behind the recent retracement appears to be losing momentum. Darkfost noted that a collapse in spot volumes preceded the end of the 2023 bear market, followed by renewed volatility and a recovery in price.

Observers also point to flows into and out of spot Bitcoin exchange-traded funds as a factor in price moves, noting heavy ETF outflows have at times coincided with buying opportunities.

Traders are watching whether demand at the $74,000 support holds and whether the breakout sustains higher ranges that would reach the pattern’s measured targets. Volume, ETF flows and key chart levels are being tracked for signs of the next phase in Bitcoin’s price action.