Potential Cup and Handle on BTC/USD (1W): Bullish Outlook

It looks like we might be seeing the classic "cup and handle" pattern forming on the BTC/USD weekly chart. This pattern typically signals a bullish continuation, suggesting that after a period of consolidation, we could see a significant upward move.

Key Points:

• Cup Formation: The rounded bottom (cup) indicates a period of accumulation where buyers are gradually gaining control, pushing the price higher.
  
• Handle Formation: The handle is a brief consolidation phase following the cup, often taking the form of a small downward or sideways movement.
  
• Breakout Potential: Once the price breaks out above the handle's resistance, it usually leads to a strong upward trend.
  

In this scenario, the breakout could potentially push BTC/USD towards the $80,000 level or higher. As always, it's crucial to watch for confirmation of the breakout and consider volume and other technical indicators for additional support.