BitcoinLong
MEGA CUP N HANDLE ANALYSIS Bitcoin-Tea
Sorry for the messy chart! I tend to keep all the lines I have at different time frames up to help me out when reading the charts.
So I from what I can asses we are on a bull run. One that will last from what I can gather is though December of 2021 midterm? People are calling 160-280k... 380k I believe is what CityBank is throwing out there? I am still learning how to use this and do TA. So I wont try and project that far out...
BUUT I will talk about some cup n handle formation! I zoomed all the way out to the weekly for this I was thinking about it with everyone talking about how we are almost at previous all time highs- So I thought another peak?
Zooming out you can see this GIANT cup and handle... I just hand drew this I didnt zoom in or use my projection bars just fun cup n handle. I drew the cup(yellow) I drew a topin red (if we hit 20kish). I brought a red line from the top to the bottomish. I cloned that line and brought it over to where (Im experimenting with the projection feature) the projected Handle is. This would shoot us up to about 29kish... Soo take that red line and drag it out to the end of the year =0 30k EOY ATH matches up with these large 100K plus projections... =] Im no expert... but looks like the small stepping stones needed to build a base for something much much larger in scale....
If anyone knows how to use that projection thing acturately Id appreciate tips n pointers. I just drew all of this over the weekly so super rough.
Soo remember #NotFinancialAdvice =D
So I from what I can asses we are on a bull run. One that will last from what I can gather is though December of 2021 midterm? People are calling 160-280k... 380k I believe is what CityBank is throwing out there? I am still learning how to use this and do TA. So I wont try and project that far out...
BUUT I will talk about some cup n handle formation! I zoomed all the way out to the weekly for this I was thinking about it with everyone talking about how we are almost at previous all time highs- So I thought another peak?
Zooming out you can see this GIANT cup and handle... I just hand drew this I didnt zoom in or use my projection bars just fun cup n handle. I drew the cup(yellow) I drew a topin red (if we hit 20kish). I brought a red line from the top to the bottomish. I cloned that line and brought it over to where (Im experimenting with the projection feature) the projected Handle is. This would shoot us up to about 29kish... Soo take that red line and drag it out to the end of the year =0 30k EOY ATH matches up with these large 100K plus projections... =] Im no expert... but looks like the small stepping stones needed to build a base for something much much larger in scale....
If anyone knows how to use that projection thing acturately Id appreciate tips n pointers. I just drew all of this over the weekly so super rough.
Soo remember #NotFinancialAdvice =D
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.