Bitcoin is showing a classic Cup and Handle formation on the daily chart, a bullish continuation pattern. After the completion of the cup, Bitcoin has formed a downward sloping handle, which suggests the market is consolidating before a potential breakout.
Using technical analysis, the projected target after the breakout is around $112,000 , based on the height of the cup added to the breakout point.
The breakout from the handle is expected to push BTC beyond the $70,000 range, aiming for the next significant resistance levels. As we wait for confirmation, a close above the handle's trendline would signal the start of a new bullish phase for Bitcoin.
This setup follows the historical price pattern and could be a long-term opportunity for traders and investors watching BTC/USD.
Using technical analysis, the projected target after the breakout is around $112,000 , based on the height of the cup added to the breakout point.
The breakout from the handle is expected to push BTC beyond the $70,000 range, aiming for the next significant resistance levels. As we wait for confirmation, a close above the handle's trendline would signal the start of a new bullish phase for Bitcoin.
This setup follows the historical price pattern and could be a long-term opportunity for traders and investors watching BTC/USD.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.