On the Bitcoin (BTC/USD) daily chart, we observe a potential bullish scenario based on the well-known Cup and Handle formation.
Between November 2021 and November 2024, Bitcoin formed a classic Cup and Handle pattern.
The "cup" part (marked as 1-2-3) is characterized by a rounded bottom, indicating a correction phase, accumulation, and gradual recovery of bullish momentum.
Then, in the second half of 2024, the "handle" (marked as 4-5) formed as a short-term consolidation in the shape of a triangle, which was followed by a breakout that led to a peak around $109k in January 2025. A correction followed, pushing the price down to approximately $76.5k in March 2025.
Currently, the price is making a pullback, testing the key zone around 87K–$93k from below.
To confirm the bullish scenario, we need a strong hold above the $75k–$76k support and a clear breakout above the local resistance zone at 87K–$93k.
As of now, this retest has not yet been confirmed and requires further observation, as there is still a risk of a fake breakout and potential drop to lower support zones — such as $66k or even $50k.
This formation suggests strong upside potential for Bitcoin in the medium to long term, and if confirmed, may signal a continuation of the uptrend with a target around $127k–$130k.
WATCH CLOSELY
Between November 2021 and November 2024, Bitcoin formed a classic Cup and Handle pattern.
The "cup" part (marked as 1-2-3) is characterized by a rounded bottom, indicating a correction phase, accumulation, and gradual recovery of bullish momentum.
Then, in the second half of 2024, the "handle" (marked as 4-5) formed as a short-term consolidation in the shape of a triangle, which was followed by a breakout that led to a peak around $109k in January 2025. A correction followed, pushing the price down to approximately $76.5k in March 2025.
Currently, the price is making a pullback, testing the key zone around 87K–$93k from below.
To confirm the bullish scenario, we need a strong hold above the $75k–$76k support and a clear breakout above the local resistance zone at 87K–$93k.
As of now, this retest has not yet been confirmed and requires further observation, as there is still a risk of a fake breakout and potential drop to lower support zones — such as $66k or even $50k.
This formation suggests strong upside potential for Bitcoin in the medium to long term, and if confirmed, may signal a continuation of the uptrend with a target around $127k–$130k.
WATCH CLOSELY
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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.