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
- Cup with handle pattern bottom
- Consolidation / Bounce zone
- First target
- 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.