📊 Analysis:
Bitcoin is currently displaying signs of a potential Inverse Cup and Handle pattern on the daily timeframe — a bearish continuation structure that often signals a shift in market sentiment.
The rounded top has already formed, followed by a minor relief bounce resembling the handle. However, momentum appears to be fading, and the price is once again approaching the key horizontal support around $81,000.
A confirmed breakdown below this level, especially on strong volume, could open the door to a deeper correction — with the next major support area likely between $60,000 and $55,000, in line with the projected move from this pattern.
🔍 Technical Highlights:
Pattern Structure: Clean inverse cup and handle forming
Momentum Shift: Oscillator rolling over from overbought territory
Resistance Zone: $85,000–$87,000 (potential handle rejection area)
Support to Watch: $81,000 (neckline)
Downside Targets: $60,000 – $55,000 if breakdown confirms.
Bitcoin is currently displaying signs of a potential Inverse Cup and Handle pattern on the daily timeframe — a bearish continuation structure that often signals a shift in market sentiment.
The rounded top has already formed, followed by a minor relief bounce resembling the handle. However, momentum appears to be fading, and the price is once again approaching the key horizontal support around $81,000.
A confirmed breakdown below this level, especially on strong volume, could open the door to a deeper correction — with the next major support area likely between $60,000 and $55,000, in line with the projected move from this pattern.
🔍 Technical Highlights:
Pattern Structure: Clean inverse cup and handle forming
Momentum Shift: Oscillator rolling over from overbought territory
Resistance Zone: $85,000–$87,000 (potential handle rejection area)
Support to Watch: $81,000 (neckline)
Downside Targets: $60,000 – $55,000 if breakdown confirms.
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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.
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.