BTC Bullish Recovery if Cup & Handle Breaks

By FX Empire | FX Empire | 26 Jan 2022


BTC/USD is in recovery mode.

 

 

BTC/USD Technical Analysis

  • BTC/USD is in recovery mode
  • Cup with handle pattern formed
  • Break of the pattern leads higher
  • D L3 is support

 

H1 CHART BTC/USD

  1. Cup with handle pattern bottom
  2. Consolidation / Bounce zone
  3. First target
  4. Final target

The BTC/USD is in recovery mode. The price went below 33999 below the W L3 pivot point and now we see a recovery. The cup with a handle pattern has formed. It’s a bullish pattern and we could see a move up if the resistance, the top of the handle breaks. Actually, the market started a recovery from the 33000 level so we might see a break higher towards 39470. If 39470 breaks then the next target is 41000-42000 zone.

 

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