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Bitcoin cup and handle forming

Viewing weekly with 55-day SMA bollinger bands suggest a cup and handle forming. The previous bull run high in 2021 to the current year's high forms the cup. If loses support at current levels a handle may form stretching down to $40K and not recovering to +$60K until late Q4 '24.

Not

Looks like I under-estimated how long BTC would trend sideways before declining. Although BTC did test the mid $50k range around the end of April, the price then recovered to create a double top inverse head and shoulders. We are only now (early July '24) seeing mid $50k prices.

WheretheStreets_HaveNoName

Feragatname

Bilgiler ve yayınlar, TradingView tarafından sağlanan veya onaylanan finansal, yatırım, işlem veya diğer türden tavsiye veya tavsiyeler anlamına gelmez ve teşkil etmez. Kullanım Şartları'nda daha fazlasını okuyun.

WheretheStreets_HaveNoName