As you can see in the image, after Friday reversal, bitcoin started a slow uptrend during Saturday and it has been forming a cup pattern during Sunday in the 5-minute chart shown below. A cup and handle pattern is an uptrend continuation pattern.
The same pattern can be seen in the 1-hour chart.
As price approaches resistance line at $4000 level, the cup handle may appear as a short downtrend channel for a few bars. Price should continue its uptrend after that. We will have to wait and see but apparently we are just facing the new uptrend of the crypto.
I totally agree with that. Testing the $4000 resistance, bounce down a bit, to $3850, where we have a little Support and the 38.2 Fibo-Line on the H1.
After that back to the $4000 and then it probably continue its uptrend.
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