Technical Analysis:
The weekly candle closed at 68,165, forming a significant green candle. BTC's dominance also closed at 55.39%. Currently, $BTC is developing a classic cup and handle pattern, with a projected target around $120000. However, a double top pattern is also present on the weekly chart. If BTC breaks above $71,000 in the next weekly candle, the double top will be invalidated, confirming the cup and handle pattern.
Fundamental Analysis:
On Sunday, U.S. President Joe Biden announced he will end his campaign. This development suggests that the upcoming election could favor Donald Trump, which is seen as a bullish signal for the crypto market.
