Bitcoin on the Move - Cup and Handle Forming

Bitcoin appears to be on the move. Last night we saw Papa BTC make a new high to a level it hasn't seen in three days. There have also been lower lows as the support now seems to be holding higher.

There still seems to be plenty of work for it to do to pass all the upper resistance levels. Once it gets passed all of those, there's still the down trend line that it will need to worry about.

However, it does appear that we could be starting to form a cup and handle pattern. If it turns out to be true and is confirmed on volume, we'll see a breakout and trend change as we surpass resistance and break the down trend resistance line.

I expect we'll see a push in the next day or two to test the $4,400 resistance and there will be support and consolidation forming the handle before blasting off. If this happens. I find it highly likely that BTC will be on it's way to testing the ATH and forming a potential new one.

Happy Trading!