This Will Shock You, BTCUSDT Cup and Handle on the Weekly
I just tested the built-in indicator, it's interesting, on the weekly chart Bitcoin seems to have formed a Cup and Handle pattern. That could mean 2x from this level, lol.
It's not financial advice, it's just interesting what the indicator shows as an educational idea.
BTC Longo
The bigger picture of market price action now suggests BTC is headed to 74K.
The bears failed to push the price below 65K. The bulls quickly intervened to push the price above 66.8K.
Flag break still in play.
BTC Weekly Update: Key Levels and Path to November ATH
On October 6th, I projected a higher low around 58k, setting up a rally to the 67-69k range, with a correction to 64k before a move to new all-time highs (ATH) in November. The linked chart depicts this setup.
For this scenario to come to fruition, we could see one last dip to 64k—often on Tuesdays—before bulls push toward a strong monthly close.
Levels to Watch This Week:
1. Monthly Closing Key Level: 67.540, which needs to hold as support until the monthly close for further upside.
2. 2024 Resistance Trendline: Currently descending from 67,760 to 67,680.
3. Main Support:
• 0.614 Fib: 64.312
• Ascending Support Trend Line: Ranging from 63,700 to 64,600.
A correction is not certain, but these levels are crucial. Watch for the bulls to hold these support points and build momentum towards an ATH in November. A break of the 58k low would be very worrying and could invalidate this bullish outlook.
$BTC $SOL
