Bitcoin cup and handle forming

Updated

Viewing weekly with 55-day SMA bollinger bands suggest a cup and handle forming. The previous bull run high in 2021 to the current year's high forms the cup. If loses support at current levels a handle may form stretching down to 40K and not recovering to +60K until late Q4 '24.

Note

Looks like I under-estimated how long BTC would trend sideways before declining. Although BTC did test the mid 50k range around the end of April, the price then recovered to create a double top inverse head and shoulders. We are only now (early July '24) seeing mid 50k prices.

WheretheStreets_HaveNoName

Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.