BTCUSD (W1) : TECHNICAL AND FUNDAMENTAL ANALYSIS,TARGET IS 100K$
Updated
BTCUSD (W1) : TECHNICAL AND FUNDAMENTAL ANALYSIS TARGET IS 100K$
Formation of the Cup and Handle:
1. The cup part of the pattern is a rounded, downward-sloping portion of the chart. It develops after the price pulls back and forms a base.
2. The handle is the relatively flat part of the pattern that develops after the price rallies back to the prior high and consolidates. Sideways price consolidation forms the handle.
Conditions for Authenticity:
1. The pattern forms during an uptrend.
2. The depth of the cup should not exceed 2/3 of the height of the previous uptrend. The optimal depth is within 1/3 - 2/3 of this value.
3. The handle’s depth should not exceed 1/2 of the cup’s depth.
4. The most reliable patterns are formed on daily or weekly timeframes.
5. Confirm the pattern using volume indicators. Volumes should grow during the uptrend and decrease during the downtrend. A sharp volume surge should accompany the breakout when the pattern completes.
Trading Strategy:
1. Enter a position after the pattern is fully formed.
2. Place a buy order when the price breaks through the resistance level from which the pattern began.
LIKE👍, COMMENT 💬 & FOLLOW ➕, these figures can encourage me to analyze more efficiently for you. My all followers are requested to support me, comment my ideas and share your thoughts in comment box and new comers are invited to follow and support me.
Formation of the Cup and Handle:
1. The cup part of the pattern is a rounded, downward-sloping portion of the chart. It develops after the price pulls back and forms a base.
2. The handle is the relatively flat part of the pattern that develops after the price rallies back to the prior high and consolidates. Sideways price consolidation forms the handle.
Conditions for Authenticity:
1. The pattern forms during an uptrend.
2. The depth of the cup should not exceed 2/3 of the height of the previous uptrend. The optimal depth is within 1/3 - 2/3 of this value.
3. The handle’s depth should not exceed 1/2 of the cup’s depth.
4. The most reliable patterns are formed on daily or weekly timeframes.
5. Confirm the pattern using volume indicators. Volumes should grow during the uptrend and decrease during the downtrend. A sharp volume surge should accompany the breakout when the pattern completes.
Trading Strategy:
1. Enter a position after the pattern is fully formed.
2. Place a buy order when the price breaks through the resistance level from which the pattern began.
LIKE👍, COMMENT 💬 & FOLLOW ➕, these figures can encourage me to analyze more efficiently for you. My all followers are requested to support me, comment my ideas and share your thoughts in comment box and new comers are invited to follow and support me.
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Ill look this chart deeply and will update this with any data which will effect BTC price. Now my given target shows the future of the BTC value that the price of BTC will increase to 100K in the next coming year to make happy, the BTC lovers. The leading coin is still ruling the world of coins. Keep patience for more updates and information related to the price of the BTC.
Thanks for the supporters and who comment and emphasize me to analyze the market more efficiently.
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This Wednesday, August 28, the US dollar saw a trade of $59942 per bitcoin, up 308 or 0.52 percent over the previous trading session. Looking back, Bitcoin increased by 10.31% throughout the previous four weeks. The price of this item increased by 117.33 percent in the past year. Looking ahead, analysts and Trading Economics global macro models anticipate that the price of Bitcoin US Dollar will be at 45157 in a year and 50929 by the end of this quarter.
LIKE👍, COMMENT 💬 & FOLLOW ➕, these figures can encourage me to analyze more efficiently for you. My all followers are requested to support me, comment my ideas and share your thoughts in comment box and new comers are invited to follow and support me.
Trade active
The chart shows the BTCUSD (Bitcoin to US Dollar) price movements, highlighting a classic “Cup and Handle” pattern. This pattern is characterized by a rounded bottom (the cup) followed by a smaller dip and rise (the handle). The chart indicates a bullish trend leading into the formation of the cup. There are two trend lines: one marking the upper resistance line of the cup and another showing the breakout direction above the handle. The breakout zone/entry zone is also marked, suggesting a potential upward price movement if the pattern holds true. 📈💹
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Its very strong target that will be achieved with a few months but with strong patience
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