BitcoinLong
Bitcoins Actual Amazing Movement Similarity with the Last Cycle!
Updated
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Hello my friends, I wish everybody a Happy New Year! Hopefully, everybody had a nice New Years' Eve.
So we are in 2020 and there are important things I discovered with bitcoins weekly time-frame movement, which I share with you today. Let's go!
There Is Bitcoins Big Cup and Handle Cycle which already played out with the target of the Cup and Handle Confirmed.
You can see it in my chart, you can see the different stages of the cup and handle confirmation, breakout, and target marked with numbers from 1-4.
Also, there is the first Cup and Handle Formation which already played out in 2017 marked with the letter A and the next Cup and Handle Cycle marked with the letter B.
1. Double Bottom and First Accumulation: The first bullish signs after a long and strong bear-market indicating a possible change in direction.
Smart-Money is accumulating in this phase.
2. Second Accumulation: Retail Money is accumulating in the market. The prices are rising higher. This is also a substantially important phase for bitcoin to develop
further rising price-movement.
3. Breakout and Cup and Handle Confirmation: Price increases further after the second accumulation is completed. Price confirms at the right top of the cup and
forms the handle which completes the formation when confirmed.
4. Final Cup and Handle Target: It s the price target projected from the top of the Cup and the lengths from the bottom to the top from the cup of this formation.
The minimum target zone is the percentual price lengths from the bottom and top of the Cup and Handle formation, more often then not the prices shoot higher than the
actual target. Which you can see in the first Cup and Handle Cycle.
Cup and Handle Formation: In the domain of technical analysis of market prices, a cup and handle or cup with handle formation is a chart pattern consisting of a drop
in the price and a rise back up to the original value, followed a smaller drop and a rise past the previous peak. It is interpreted as an indication of bullish sentiment in
the market and possible further price increases.
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The second Cup and Handle Cycle in which we are trading right now looks pretty similar to the last one, it wouldnt be not so Improbable that we confirm this second Cup
and Handle like the last one. On the other hand these formation can also fail and print another formation which either consolidates or falls down. A defnite test of the
higher line from this formation can be taken as complete confirmation of the formation and further upward price movement.
______________________________________________________________________________________________________________________________________________________
Hello my friends, I wish everybody a Happy New Year! Hopefully, everybody had a nice New Years' Eve.
So we are in 2020 and there are important things I discovered with bitcoins weekly time-frame movement, which I share with you today. Let's go!
There Is Bitcoins Big Cup and Handle Cycle which already played out with the target of the Cup and Handle Confirmed.
You can see it in my chart, you can see the different stages of the cup and handle confirmation, breakout, and target marked with numbers from 1-4.
Also, there is the first Cup and Handle Formation which already played out in 2017 marked with the letter A and the next Cup and Handle Cycle marked with the letter B.
1. Double Bottom and First Accumulation: The first bullish signs after a long and strong bear-market indicating a possible change in direction.
Smart-Money is accumulating in this phase.
2. Second Accumulation: Retail Money is accumulating in the market. The prices are rising higher. This is also a substantially important phase for bitcoin to develop
further rising price-movement.
3. Breakout and Cup and Handle Confirmation: Price increases further after the second accumulation is completed. Price confirms at the right top of the cup and
forms the handle which completes the formation when confirmed.
4. Final Cup and Handle Target: It s the price target projected from the top of the Cup and the lengths from the bottom to the top from the cup of this formation.
The minimum target zone is the percentual price lengths from the bottom and top of the Cup and Handle formation, more often then not the prices shoot higher than the
actual target. Which you can see in the first Cup and Handle Cycle.
Cup and Handle Formation: In the domain of technical analysis of market prices, a cup and handle or cup with handle formation is a chart pattern consisting of a drop
in the price and a rise back up to the original value, followed a smaller drop and a rise past the previous peak. It is interpreted as an indication of bullish sentiment in
the market and possible further price increases.
______________________________________________________________________________________________________________________________________________________
The second Cup and Handle Cycle in which we are trading right now looks pretty similar to the last one, it wouldnt be not so Improbable that we confirm this second Cup
and Handle like the last one. On the other hand these formation can also fail and print another formation which either consolidates or falls down. A defnite test of the
higher line from this formation can be taken as complete confirmation of the formation and further upward price movement.
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Note
Information provided is only educational and should not be used to take action in markets.Note
"An investment in knowledge pays the best interest. "Note
“Trading effectively is about assessing probabilities, not certainties.”Note
Information provided is only educational and should not be used to take action in markets.Note
Knowledge is the ability to strive.Note
ANALYSIS UPDATE: BITCOIN moved on with finding support within the major cup handle formation within which it bounced to finally form the formation breakout.Since BITCOIN already completed the whole formation it is now entering phase 4 of the whole cycle in which a major bullish continuation is to be expected.
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