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BTC/USD bullish recovery cup with handle pattern

BTC/USD bullish recovery cup with handle pattern
Nenad KerkezNenad KerkezTop-XE

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.

BTCUSD

H1 chart BTC/USD

  1. Cup with handle pattern bottom.

  2. Consolidation/Bounce zone.

  3. First target.

  4. 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.

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Nenad Kerkez

 

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