Massive cup and handle or IHS

The price of PHB/BTC were consolidating quite some time in a descending parallel channel but it broke out and made another descending parallel channel. You can see the two reversal pattern on the chart, you can call it for IHS or Cup and handle. I am just guessing, do not trade based on this. The idea is for entertainment purposes.
If there is confirmation I might considering being long.
You can see on the chart the price target.