Bitcoin cup and handle pattern
Bitcoin has recently formed a cup and handle pattern on the daily timeframe, breaking above the handle’s resistance and creating a new all-time high. My plan is to wait for a retest of the handle’s resistance level, watching for it to act as support, ideally confirmed by bullish patterns.
The first resistance is at the 1.272 Fibonacci level relative to the cup’s height, where a pullback to retest the previous handle’s resistance may occur. If this level holds as support, I’ll consider a second target at the 1.618 Fibonacci level of the cup’s height.
The first resistance is at the 1.272 Fibonacci level relative to the cup’s height, where a pullback to retest the previous handle’s resistance may occur. If this level holds as support, I’ll consider a second target at the 1.618 Fibonacci level of the cup’s height.
Note
This disclaimer is my idea, but I used AI to fine-tune it.
Warning: Proceed with caution! This is just my stream of consciousness on market moves. My analysis is as adaptable as my morning coffee routine, and yes, I make mistakes—sometimes big ones (I once thought Bitcoin was digital gold… then reality hit). I’m about as bearish on Bitcoin as a penguin in the Sahara, so don’t be surprised when I predict its future home will be a cozy spot in the Museum of Financial Oddities. Feedback is welcome—especially if you’ve cracked the code I’m missing, because I read "The Bitcoin Standard" and still only see it as potential wall art in the "Tech of Yesteryear" exhibit.
Note: If you don’t have a solid idea of how a finite money system would actually improve the future, then it’s best to avoid giving feedback on that disclaimer.
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