BitcoinShort
WATCH OUT TRADERS BTC CUP AND HANDEL PATTERN BEARS ARE HEREEEEEE
Bitcoin is showing signs of forming a classic cup-and-handle pattern, a structure often indicative of potential price movements. Currently, the handle appears weak, suggesting the possibility of a breakdown if support levels fail to hold. If this bearish scenario plays out, Bitcoin could retrace sharply, with a target as low as $91. The declining volume during the handle phase adds to the bearish outlook, signaling reduced buying pressure. This setup warrants close monitoring, as it could define the next major move in the market.
BTC Cup-and-Handle in Play: Bitcoin forms a textbook cup-and-handle pattern, signaling potential volatility ahead.
Critical Support Levels: The handle appears weak, and a break below key supports could confirm a bearish move.
Downward Target: Technical analysis points to a possible retracement towards $91 as sellers regain momentum.
Volume Divergence: Decreasing buying pressure reinforces bearish sentiment during the handle phase.
stop loss 98,800
take profit 1 93,756
take profit 2 90,173
take prift 3 89,360
ITS JUST AN IDEA NOT FINANCIAL ADVICE
BTC Cup-and-Handle in Play: Bitcoin forms a textbook cup-and-handle pattern, signaling potential volatility ahead.
Critical Support Levels: The handle appears weak, and a break below key supports could confirm a bearish move.
Downward Target: Technical analysis points to a possible retracement towards $91 as sellers regain momentum.
Volume Divergence: Decreasing buying pressure reinforces bearish sentiment during the handle phase.
stop loss 98,800
take profit 1 93,756
take profit 2 90,173
take prift 3 89,360
ITS JUST AN IDEA NOT FINANCIAL ADVICE
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