Bitcoin cup and handle forming

28 Nis

Viewing BTC 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 BTC loses support at current levels a handle may form stretching down to 40K and not recovering to +60K until late Q4 '24.

13 Tem

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.