While Bitcoin fluctuates in the low 80 thousand dollar band, two different technical analyzes attract attention, both long-term and short-term. According to the charts shared by analysts, if a permanent hold is not achieved in this price zone, upward movements may not gain strength. It is stated that movements above 80 thousand dollars are especially critical on a weekly basis.
Cup and Handle Formation: Bullish Signal and Goals
The 2-week Binance chart shared by Crypto Patel, one of the frequently followed analysts in the cryptocurrency community, points to a long-term “cup and handle” formation in Bitcoin. The theoretical target of this technical structure was shown as 363 thousand 142 dollars.
The “cup” region on the chart, consisting of the peak in 2021 and the bottom in 2023, was completed with the recovery movement in 2024. Then the price retreated from the resistance line between 2024-2025 and entered the “handle” section. This handle section stands out as a downward sloping jam.
It was emphasized that if Bitcoin breaks the handle resistance, there is a possibility of a major upward move technically. Crypto Patel showed $200k, $300k and $363k as the main potential targets respectively within the scope of the current chart.
The fact that the price has not yet made a definitive upward break from this formation shows that the technical outlook remains only on a probability basis. These major targets are not expected to be confirmed unless Bitcoin breaks the current resistance in volume.
The accumulation zone between 40 thousand and 60 thousand dollars also draws attention in the chart. Recently, Bitcoin has only partially tested this area. It seems possible that the price will retreat towards this range in a possible new decline; However, it is thought that the withdrawal will be limited if the current support is maintained.
Weekly Support Test and Trend Determination
Sharing analysis on Coinbase’s weekly chart, Daan Crypto Trades stated that Bitcoin is traded around $ 80 thousand 347 and that this level is just above the “Bull Market Support Band”, that is, the uptrend support band.
The support band is shown on the chart as the range between 76 thousand 177 and 78 thousand 614 dollars. Although Bitcoin has risen above this band in the short term, there has been no clear breakout yet. It is considered important for the price to remain above these levels at weekly closings to strengthen the upward movement.
According to the shared graphic; Bitcoin is also above deeper support zones such as the weekly 200EMA ($68,685) and the weekly 200MA ($60,809). In a possible pullback, these levels will be followed as critical support.
Daan Crypto Trades noted that Bitcoin would need to close in the low $80,000 region for a week or two to start a long-term rise. He stated that not only short-term increases but also permanent closures will be decisive in the weekly charts.
Bitcoin’s current course stands out as an attempt to rise in the short term. While staying above the weekly band strengthens the bullish scenario, it is considered that a new unsuccessful breakout may occur if it falls below the band again.
