BTC/USD Forming Bullish Cup and Handle Pattern – Breakout Target

Support Zone ("SUPPORT")

A clear horizontal support zone has formed between approximately $106,231 and $107,555.

This zone has been tested multiple times, indicating strong buying interest and support stability.

Cup and Handle Pattern Formation

The blue curved line outlines a developing Cup and Handle pattern—a classic bullish continuation setup.

The cup is currently forming, with the handle either forming or expected to begin soon.

Breakout Target ("POINT")

The green box marks the target area for a breakout move, aiming for a projected price of $118,172.

This target is derived by projecting the depth of the cup upward from the anticipated breakout level.

Moving Averages

EMA 50 (red line): Currently at $108,986

EMA 200 (blue line): Currently at $107,049

Price is trading above both EMAs, a bullish signal suggesting upward momentum is intact.

Risk Zone (Red Box)

Below the support zone lies the risk area, where a breakdown could invalidate the bullish setup.

Interpretation

The chart setup reflects a bullish bias, with a potential breakout possibly driving price toward $118,172.

A strong candle close above the $109,000 resistance would be a key confirmation.

Traders may wait for further confirmation such as an increase in volume or a successful retest of the breakout level before entering a trade.$BNB $SOL $BTC