Technical analysis by CryptoSanders9563 about Symbol BTC on 5/5/2025

BTC/USDT Chart Pattern: Multi-Year Cup and Handle FormationThe chart shows a textbook “cup and handle” formation, a highly reliable bullish continuation pattern. This pattern has played out over several years (2021-2025), indicating long-term accumulation and a breakout attempt.Cup Phase:Extended from mid-2021 to early 2024.Formed a deep and rounded base, often indicating institutional accumulation.The rounded lows reflect a gradual sentiment recovery from the 2022-2023 bear market.Handle Phase:A short-term consolidation after moving above the $70,000-$74,000 resistance area.Price action pulled back marginally after hitting $110,000, forming higher lows near $85,000.The structure resembles a bull flag or pennant, which is usually seen before the next upward move.Key Support and Resistance Areas:Key Support $70,000–$74,000. Previous resistance turned into supportPsychological Support $85,000 Local Retracement LowImmediate Resistance $100,000–$110,000 Near ATH, selling pressure areaLong-term Target $130,000+ Measured move from cup patternVolume: Volume was high during the breakout from late 2024 to early 2025, which validates the breakout from the cup resistance area.If BTC breaks above $100,000–$110,000 with strong volumes, we can expect continuation towards:$130,000 (short-term target)$150,000–$180,000 (extension based on pattern symmetry)Bearish Risks:Failure to hold $85,000 could lead to a retest of the $70K support area.Sustained breakdown below $70K would invalidate the bullish pattern, but this seems unlikely given the strong fundamentals and macro structure.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