$BTC
BITCOIN POTENTIAL CUP AND HANDLE FORMATION
Bitcoin experienced a sharp drop as a market reaction to the ongoing geopolitical issues, dipping to 98,165. However, the price quickly rebounded following ceasefire news, now consolidating around 106,100, forming what appears to be the handle of a potential cup and handle pattern.
What is a Cup and Handle Pattern?
It’s a bullish chart pattern that resembles a teacup. The cup is formed after a rounded bottom a period of decline followed by recovery, and the handle is a short consolidation or pullback before a potential breakout.
We currently have lower key support levels at:
85,195
76,000
⚠️ A break below 76,000 would invalidate the cup and handle pattern and shift market sentiment bearish.
Always monitor price action closely around key levels.
