Unveiling the Latest Bitcoin Trends: Your Ultimate Guide

BTC is forming a cup and handle pattern resembling the structure from 2019. The handle is expected to align with Fibonacci levels and the next significant support below. It's worth monitoring this development closely. Remember, this is Not Financial Advice. Always conduct your own Due Diligence. I'm a beginner trader in this space.

I also wanted to mention another potential target for a shallower cup in this context.

Weekly Fibonacci circles highlighting potential targets and timeframes for a bullish market rally.

Price is currently trending downwards towards the anticipated support level. I will provide a more detailed analysis on a shorter timeframe tomorrow as the price action continues to unfold.

This marks the upward arc in the (informal) cup formation on the hourly chart. Here lies the (level?) handle for the cup. This isn't your typical cup; the handle is flat, perhaps a hipster touch.

Just a quick update on this concept as the pattern seems to be developing well. The information line represents the cup's depth and aligns nicely with a rejection from a significant trendline above.

I believe that another significant pullback is necessary before we can expect a strong uptrend. The RSI is reaching its peak in the 70s, and the 200 SMA is indicating a robust support level below. It is probable that a return to the 25.5 region will serve as a launching pad for a promising long setup.

Looking for a retest of this zone on the Daily chart before resuming the upward movement towards the north. Sharing to highlight a clearer target within the ellipse zone, with the convergence of the 200 SMA, support levels, and increasing macro support, along with the .618 to the .786 Fibonacci levels.

Also, there might be a 4-hour double top pattern emerging, potentially leading to a downward movement back towards the robust support level of 25-27k.

The weekly outlook suggests a significant impact on the market, with the recent major weekly candle signaling a potential shift. I anticipate that this trendline may act as a barrier for Bitcoin, leading to a significant correction. It appears to divide the extreme bullish and bearish movements in half across different cycles. This notable trendline has piqued my interest and warrants close monitoring.

We've seen the retest I anticipated, with the RSI now reset. I'm foreseeing a swift recovery for BTC.

Back to the macro for a weekly perspective on this topic.

Monthly close is currently forming a shooting star doji, indicating a potential reversal. A close like this suggests more downside movement on both monthly and weekly timeframes.

Going back to the initial update on this concept, let's analyze how the C+H pattern unfolded and discuss why I anticipate the bears will dominate the market from winter into spring.

Multicoloured trendlines present key areas to monitor during the exploration phase. Regardless of any potential pullback, remember that the moon may be within closer reach than anticipated. A recalibration of the oscillators is essential at this juncture.

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I was surprised to see a new all-time high before the halving, but with the increased stakes and institutional demand, it's no wonder. The upcoming monthly mother of all cups seems to be gearing up for a significant move.

Buckle up for the ride ahead.

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