Home Market Zoom Is Bitcoin Forming An Extended Handle In A Pattern: Where Might It Be Headed Next?

Is Bitcoin Forming An Extended Handle In A Pattern: Where Might It Be Headed Next?

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Bitcoin has been steadily falling for few months and it now looks to be recovering the level and forming into the handle of what technical traders call a cup and handle pattern.

Bullish traders would like to see the handle pattern confirm and for Bitcoin to push back above the $60,000 level again. Bulls then want to see this level become support, hinting the crypto may be ready for its next leg up.
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Bearish traders want to see the crypto continue to fall and be unable to form the handle pattern. Bears are then looking for a bearish market where the price of Bitcoin falls and possibly makes it down to the next strong level of support near $30,000. If the price crossed below this level and was able to hold it as resistance, the price may fall even further.

Disclaimer: Cryptocurrency investment is subject to high market risk. AtoZCrypto.org is not responsible for any of your trading losses. The opinions and statements made above should not be considered financial advice.

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