Bitcoin Adam and Eve bottom with Cup and Handle formation
Since my last post mentioning the Adam and Eve bottom, we have almost perfectly hit the neckline.
We are nearing the trend line at about $11150 and if we manage to break it, Bitcoins price target will be at $13000+.
However, only one of these two big scenarios will occur:
- A straight break of 11.15k, resin for that being that too many are expecting a dip at 11.15k
- No break of 11.15k, a small retracement to 11.3k, followed by either a big major dump or actually a completion of the Cup and Handle formation.
How can you trade this?
-Short at 11.15k and put a tight stop loss above
- wait for a break of 11.15k and go long then
further updates will follow
We are nearing the trend line at about $11150 and if we manage to break it, Bitcoins price target will be at $13000+.
However, only one of these two big scenarios will occur:
- A straight break of 11.15k, resin for that being that too many are expecting a dip at 11.15k
- No break of 11.15k, a small retracement to 11.3k, followed by either a big major dump or actually a completion of the Cup and Handle formation.
How can you trade this?
-Short at 11.15k and put a tight stop loss above
- wait for a break of 11.15k and go long then
further updates will follow
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