Long

$BTC - Hourly C&H | Enough to break through $65k?

Updated

I’ve spotted a classic Cup and Handle (C&H) pattern on the hourly chart, and it looks like it could be a promising setup for a long position if we are indeed gearing up to challenge again.

Trade Idea:

Entry Point: Look for a breakout above the handle’s resistance level. This confirms the pattern and signals a potential upward move.
Target: Aim for a 3% gain from the breakout point. This target is based on the typical price movement following a C&H breakout. Doing incremental TPs at the Fibs make sense as well
Risk Management: Place a stop loss just below the handle’s low to manage risk effectively & always ensure your position size aligns with your risk tolerance.

Who is bullish?

Nfa dyor yakwtfgo

Trade closed: stop reached

this sell pressure is relentless-- chances of a flush to the downside increase as we remain unable to break 65-- maybe it's soon?

Note

PA is still pushing to 65, so dang close-- but I fear that we may be heading into a bull trap. The amount of open interest (long) that will open above 65 will be massive, and the whales will likely try to harvest.. be careful folks!

Note

This would've been a beaut! SL was too tight. Learning.

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