BTC/USD technical analysis
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BTC/USD is in recovery mode.
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Cup with handle pattern formed.
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Break of the pattern leads higher.
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D L3 is support.
H1 chart BTC/USD
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Cup with handle pattern bottom.
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Consolidation/Bounce zone.
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First target.
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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.
The analysis and the article presents Nenad's opinion. Remember, financial trading is highly speculative & may lead to the loss of your funds. Proper risk management is the Holy Grail of trading.
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