Possible "Cup and Handle" in the making?
Updated
Hi, just a humble idea I wanted to share.
Together with the many short term Bearish and long term Bullish idea's,
it seems to me BTC could be ready to form a "Cup and Handle" pattern.
The pattern is visible on many Alts as well!
Of course it is far too soon to say, since there is no handle or whatsoever yet,
but is perhaps a nice exercise to see what we should watch for if it becomes more clear.
If a handle does form, dependable on which bottom is chosen for
the cup, price shouldn't go lower than around 7740 - 8000 before
rising again above 9000.
If the price the next few days keeps on rising to 9500, and a handle
still is formed, price shouldn't go lower than around 7965 - 8250.
Coincidentally or not, these support area's does fit with other idea's.
When price does closes below these support lines, the idea is getting way more Bearish...
So there it is, just an idea, we'll see what the future brings
Together with the many short term Bearish and long term Bullish idea's,
it seems to me BTC could be ready to form a "Cup and Handle" pattern.
The pattern is visible on many Alts as well!
Of course it is far too soon to say, since there is no handle or whatsoever yet,
but is perhaps a nice exercise to see what we should watch for if it becomes more clear.
If a handle does form, dependable on which bottom is chosen for
the cup, price shouldn't go lower than around 7740 - 8000 before
rising again above 9000.
If the price the next few days keeps on rising to 9500, and a handle
still is formed, price shouldn't go lower than around 7965 - 8250.
Coincidentally or not, these support area's does fit with other idea's.
When price does closes below these support lines, the idea is getting way more Bearish...
So there it is, just an idea, we'll see what the future brings
Note
So far so good!
PineCoder: pinecoders.com
- We cannot control our emotions,
but we can control our keyboard -
- We cannot control our emotions,
but we can control our keyboard -
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