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

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.

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.