Bitcoin Cup and Handle Pattern - Last Leg

8 août 2024

BTCUSDT (1W CHART) Technical Analysis Update

Bitcoin has recently formed a well-defined cup and handle pattern, with the price currently in the final stage of the handle. A recent market dip, fueled by recession fears, briefly pushed Bitcoin's price below $50,000. However, it quickly rebounded and is now trading at around $59,000.
If this reversal trend continues, we could see Bitcoin's price reach the resistance level of $65,000 to $67,000, marking the top of the handle. A breakout from this resistance zone would confirm the continuation of the bull run. The upcoming weeks will be critical in determining whether the bull run will persist or if a bear market is on the horizon.

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Cheers
GreenCrypto

9 août 2024

Note

It might take 2-3 weeks to reach the resistance level.