'"could be" setting up for a nice cup and handle pattern.
Good afternoon everyone....I have been eyeing this patter for a bit. On the BTC daily candles, it appears we could be setting up for a nice cup and handle pattern. Now I am only suggesting this based on current info.
All indications are suggesting BTC would still move a bit higher. Looking back on the charts, BTC's final support levels before the massive drop at the end of 2018 began to make higher lows, and a lower high of 6477-6500. If we continue the uptrend over the next week, to hit my target of 6477-6500 we meet a major resistance of our last high prior to the drop in price. If this pattern plays out and price is rejected to our last support zone of 4841-5057 that we established in the whole month of April then begin a move back to the upside, we will confirm my theory of the cup and handle pattern. I am a newby, so this post is more to establish my own confidence. Feel free to comment, however keep the bullsh!t to yourself. Noone is perfect at this, we should all be looking for ways to be better...not be a douche. =)
I am not a financial advisor...so do your own research before making any investments...now, lets go!
All indications are suggesting BTC would still move a bit higher. Looking back on the charts, BTC's final support levels before the massive drop at the end of 2018 began to make higher lows, and a lower high of 6477-6500. If we continue the uptrend over the next week, to hit my target of 6477-6500 we meet a major resistance of our last high prior to the drop in price. If this pattern plays out and price is rejected to our last support zone of 4841-5057 that we established in the whole month of April then begin a move back to the upside, we will confirm my theory of the cup and handle pattern. I am a newby, so this post is more to establish my own confidence. Feel free to comment, however keep the bullsh!t to yourself. Noone is perfect at this, we should all be looking for ways to be better...not be a douche. =)
I am not a financial advisor...so do your own research before making any investments...now, lets go!