The post Cup and Handle Pattern Suggests another Dip in Bitcoin appeared first on Coinpedia Fintech News
Bitcoin has been trying to come over the $70,000 price mark for many days now. Everytime it comes near its target, something new fills the market with fear and BTC fails the mission. It now feels like a video game where you almost killed the boss but misses with little chance left. Let’s explore what technical analysis of Bitcoin has to say.
Bitcoin Displays Cup and Handle Pattern
The weekly chart of Bitcoin displays a cup and handle pattern. This pattern reflects the continuation to an uptrend once the handle is fully formed. Looking at the chart, it looks like the pattern is about to finish, which means the rise in price is on its way. However, it is quite possible we see a little pull back before Bitcoin starts its journey to create another All Time High.
Tradingview
As of writing, Bitcoin price shows a decline of 1.77% from its previous day and is moving near $
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