$BTC BTC/USDT ANALYSIS
Bitcoin has recently broken out of a large cup and handle pattern, a strong bullish signal, with substantial trading volume reinforcing the breakout’s credibility.
This pattern often suggests a continuation of the prevailing trend, and in this case, the breakout indicates potential for a sustained upward movement.
The Ichimoku Cloud, currently positioned beneath the price action, is providing significant support, bolstering Bitcoin’s bullish momentum.
However, there is a notable CME gap between the $77,930 and $80,670 levels. Market participants often observe these gaps, as they tend to get filled over time.
This particular gap may attract a pullback in Bitcoin’s price as traders seek to close it. Once filled, this pullback could serve as a healthy correction, potentially setting up the next stage of the bullish rally.
