BTC/USDT weekly chart shows a classic technical analysis pattern

The BTC/USDT weekly chart shows a classic technical analysis pattern

Support and resistance levels:

There is clear horizontal resistance around $83,000, represented by the green line.

The potential support level is marked around $78,000.

The chart shows a “cup and handle” structure, which could indicate bullish potential if the price breaks above the resistance.

An upward trend line is also present, reinforcing bullish sentiment as long as the price remains above it.

Currently trading around $83,436, noticeable price action reflects market sentiment towards potential future highs.

Keep an eye on breakouts above resistance for bullish signals or declines below support levels for potential bearish sentiment.

Always consider market volatility and use risk management strategies when trading.

If you found this analysis helpful, hit the Like button and share your thoughts or questions in the comments below. Your feedback matters!

Thanks for your support!

DYOR. NFA