BTC/USDT weekly chart displays an important pattern.

Current Price Action: Bitcoin is trading around $92,766.71, a notable position just below the recent highs.

Resistance Area: A clear resistance level is represented by the horizontal line near $100,000. This level has proven difficult to break, and price action will soon determine if it can reclaim this area.

Cup and Handle Pattern: The chart shows a potential cup and handle formation, which could indicate bullish sentiment if the price breaks above resistance. This pattern has a rounded bottom formed in early 2022 and late 2023.

Volume Analysis: It is important to analyze volume alongside price moves. A breakout above resistance will ideally be supported by high volume to confirm strength.

Potential Support Level: If the price pulls back, the green highlighted area provides support, which traders could view as a buying opportunity.

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