Crypto whales started buying Bitcoin: what to expect?

Despite the fact that the cryptocurrency market is filled with bearish forecasts and sentiments, many investors have started buying Bitcoin, as if listening to Robert Kiyosaki's advice. Some analysts see the "Cup And Handle" pattern on the charts, predicting the start of an upward trend for the coin in the very near future.
In his detailed analysis of Bitcoin prices, cryptoanalyst CobraVanguard from TradingView emphasizes the formation of the classic 'Cup And Handle' pattern. This technical pattern is a well-known bullish trend continuation indicator signaling a possible increase in momentum and the onset of strong price growth.
Interestingly, the chart also shows other important technical signals. In particular, the 'Ascending Triangle' pattern was identified, characterized by a horizontal resistance line at the top and an increasing trend line at the bottom. This pattern is also a bullish formation, often preceding a price increase, signaling strengthening buying pressure.
When it comes to buying pressure, CobraVanguard notes that the appearance of two bullish technical patterns on the BTC chart at the same time may be a signal to buy and hold (HODL). Currently, the price of Bitcoin is significantly below historical highs and is trading at $96,000, so future growth could make this moment optimal for market entry.
Based on these patterns, a TradingView analyst has set a new target for Bitcoin. He predicts that the leading cryptocurrency will reach $120,000 in the coming weeks. This will be a new all-time high, surpassing previous records set earlier this year.
It is worth noting that in addition to the aforementioned patterns, CobraVanguard also identified a harmonic AB=CD pattern on the chart. This indicator indicates symmetry in the movement of the Bitcoin price and signals a potential upward impulse after the completion of the pattern.
Although TradingView analyst predicts that the asset could reach $120,000, he also notes that in case of further breakthrough of bullish formations, an even higher target of $124.6 thousand is possible.