BTCUSDT: Cup With Handle Breakout Pattern, Next Target $70,000
2024-10-16

Hello TradingView traders! Today, we are going to analyze an extremely attractive setup on the 4-hour BTCUSDT chart.

Looking at the chart, we can see that BTC is in a clear uptrend after breaking the strong resistance at $66,000. This is an important level that has been tested many times in the past and was finally broken with impressive momentum without any significant reversal signs. The support at $66,000 is now acting as a key support point, providing a solid foundation for the next rally.

Interestingly, BTC is creating a complete cup with handle pattern - an extremely strong pattern that shows continued bullish signals in the medium to long term. Today's trading strategy will be to buy at $66,000, wait for a correction to the support level and then enter the order with the expectation that the price will continue to rise. Manage your capital carefully and wish you successful trading!