BTC/USD technical analysis
BTC/USD is in recovery mode.
Cup with handle pattern formed.
Break of the pattern leads higher.
D L3 is support.
H1 chart BTC/USD
Cup with handle pattern bottom.
Consolidation/Bounce zone.
First target.
Final target.
The BTC/USD is in recovery mode. The price went below 33999 below the W L3 pivot point and now we see a recovery. The cup with a handle pattern has formed. It's a bullish pattern and we could see a move up if the resistance, the top of the handle breaks. Actually, the market started a recovery from the 33000 level so we might see a break higher towards 39470. If 39470 breaks then the next target is 41000-42000 zone.
Buyers must close Bitcoin at or above the $37,300 value area this week. If that does not happen, Bitcoin will enter into an Ideal Bearish Ichimoku Breakout setup – the most sought-after short setup in the Ichimoku Kinko Hyo system. Fulfilling the criteria for that short entry would be the first time since the Covid-crash in March 2020 and only the second time since May 2018.
Solana remains superior to other blockchains despite outages
0 Comments