Bitcoin: Technical and Cyclical AnalysisBitcoin / US DollarCOINBASE:BTCUSDJoMerendeBitcoin has always been surrounded by an aura of mystery that fascinates tech enthusiasts more than traditional investors. Fundamental analysis often veers into technological discussions rather than financial ones. Yet, as it has repeatedly demonstrated over time, BTC responds remarkably well to the principles of technical analysis and cycle theory. The Pattern: A Textbook Cup & Handle On the weekly timeframe, a perfectly recognizable Cup & Handle continuation pattern has developed: Cup: Formation between the November 2021 peak (~$69k) and the recovery culminating in late 2024 Handle: Consolidation/correction during the first half of 2025 Breakout: Occurred with extension toward the first target Key Levels Using the classic pattern extension (2-3 times the cup depth measured from the neckline), three fundamental levels emerge: LevelPrice Significance 0 $15,460 2022 bear market low 1 $71,272 Cup neckline 2 $127,084 First extension target ✓ 3 $182,896 Second extension target Level 2 was reached in correspondence with the peak of the 4-year inverse cycle — a notable confluence between price action and cyclical timing. Current Situation and Scenarios After touching target 2, price faced a decisive rejection, breaking below the last higher low and thereby confirming a short-to-medium term reversal. Bearish Scenario Target 3 is now at risk. The decline is stabilizing below level 1 ($71,272), a condition that typically invalidates reaching the extended target. Critical level to watch: $49,050 A loss of this support would likely trigger a significant drop toward the $20,000 area, coinciding with the potential closure of the 4-year base cycle. Bullish Scenario A recovery above $82,814 sustained for approximately 2 months would reopen the path toward all-time highs and potentially toward target 3 in the $183k area. Conclusion This analysis demonstrates once again how Bitcoin, despite its "technological" nature, responds perfectly to classic technical analysis tools. The confluence between the Cup & Handle pattern and 4-year time cycles provides a clear operational framework with well-defined levels to monitor. Happy trading! This analysis is provided for educational and informational purposes only. It does not constitute financial advice. Always do your own research before making investment decisions.