BTCUSD : BULLISH CUP & HANDLE PATTERN IN WEEKLY TIME FRAME.
Btcusd analysis is detailed and aligns well with multi-timeframe price action strategies. Here’s a concise breakdown of your observations:
Weekly Timeframe:
Cup and Handle Pattern: A bullish formation indicating potential upward momentum.
Neckline Breakout: Confirms the bullish bias, but price is currently in the resistance zone ($73,600).
Possible Retest: $68,000–$72,000 may act as a pullback zone, aligning with the "retest after breakout" concept.
Daily Timeframe:
Bullish Pennant: A continuation pattern suggesting further upside potential.
Breakout Confirmation:
If a daily/H4 candle closes above $73,600, the market could potentially aim for:
First Target: $105,234.
Final Target: $129,435.
Notes:
Resistance zones often induce volatility; waiting for clear breakout confirmations minimizes risk.
Monitor volume during breakouts for strength validation.
Always maintain a risk management plan: Use stop-losses and position sizing effectively.
Weekly Timeframe:
Cup and Handle Pattern: A bullish formation indicating potential upward momentum.
Neckline Breakout: Confirms the bullish bias, but price is currently in the resistance zone ($73,600).
Possible Retest: $68,000–$72,000 may act as a pullback zone, aligning with the "retest after breakout" concept.
Daily Timeframe:
Bullish Pennant: A continuation pattern suggesting further upside potential.
Breakout Confirmation:
If a daily/H4 candle closes above $73,600, the market could potentially aim for:
First Target: $105,234.
Final Target: $129,435.
Notes:
Resistance zones often induce volatility; waiting for clear breakout confirmations minimizes risk.
Monitor volume during breakouts for strength validation.
Always maintain a risk management plan: Use stop-losses and position sizing effectively.
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