Bitcoin's Inverse Cup and Handle – Bearish Breakdown Ahead?

17 Feb

As I expected in the previous post, Bitcoin(BTCUSDT) at least dropped to the Support zone($96,150-$94,700).

If we look at the Bitcoin chart in the 15-minute time frame, we will see that Bitcoin is completing the Inverse Cup and Handle Pattern(Handle of this pattern is being completed).

As I said in the previous post, $96,700 is important for Bitcoin. Bitcoin is currently moving below this level, which could mean that the Inverse Cup and Handle Pattern can work for Bitcoin.

Educational tip: The Inverse Cup and Handle Pattern is a bearish reversal pattern that forms after a downtrend. It resembles a cup shape followed by a small consolidation (handle) before a breakdown. A breakdown below the handle confirms the pattern, signaling a potential downward move.


The price increase in the last two or three candlesticks (in a 1-hour time frame) was NOT accompanied by a large volume, and this can strengthen the theory of completing the handle of the Inverse Cup and Handle Pattern.

I expect Bitcoin to attack the Support lines and Heavy Support zone($93,300-$90,500) AFTER breaking the Neckline of the Inverse Cup and Handle Pattern.

Note: If Bitcoin succeeds in breaking the Resistance line and stabilizes above $96,700, we can hope to break the Descending Channel, And the CME Gap($97,845-$97,110) will also be filled.

Do you think the Inverse Cup and Handle Pattern will work?

Please respect each other's ideas and express them politely if you agree or disagree.

Bitcoin Analyze (BTCUSDT), 1-hour time frame.

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18 Feb

Dagangan aktif

Trade was activated after breaking the neckline(valid).

18 Feb

Dagangan ditutup: sasaran tercapai

Target Done.