BTC/USD Bullish Recovery If Cup With Handle Pattern Breaks

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.

Cheers and safe trading,

Nenad