BTC is My Cup of Tea
Updated
BTC cup and Handle similar to '19 structure.
Handle would line up with the fib levels and the next major support below.
Keep an eye on this.
NFA
do your own DD
Novice trader here.
Handle would line up with the fib levels and the next major support below.
Keep an eye on this.
NFA
do your own DD
Novice trader here.
Note
I wanted to also update this idea with another likely target for a more shallow cup.Note
Weekly Fib Circles with Bullrun Potential Targets and Timeframes.Note
price is diving down the estimated handle arc.Will update with a lower timeframe tomorrow as the price action developes.
Note
This is the arc up in the (sloppy) cup structure on the hourly chart.This is the (flat?) handle for the cup. guys, its not your average cup. the handle is flat. its a hipster thing I think.
Note
Just wanted to update this idea as the handle has seemed to form quite nicely.This is what I am expecting. Info line is the depth of the cup, and lines up well with a rejection off a major trendline overhead.
Note
I think we need one more good pullback before the real bullish action begins.
rsi is maxing out at 70s
200 sma is lining up with a strong support below
a potential revisit of the 25,5 region seems likely to act as a springboard for another nice long settup.
Note
looking for a retest of this zone before we continue to the north on the Daily chart.posting to show a clearer target in the ellipse zone.
200 sma, support, and rising macro support coming together
alongside the .618 to the .786
Note
also maybe a 4H double top forming. this would also lend to a breakdown back toward the 25-27k level that has strong support.Note
Weekly perspective.The handle feels like it was cut in half by this major weekly candle.
I think this trendline is going to reject bitcoin and is where the next major correction will occur from. It seems to cut the hyper bullish and hyper bearish action in half from one cycle to the next.
This trendline caught my eye and is also worth paying attention too.
Note
we got the retest I was anticipating. RSI is reset. Im expecting a quick recover for BTCNote
back to the macro for this weekly perspective
Note
Monthly as it stands is topping off with a shooting star doji.A close like this would be strong evidence for more downside on the monthly and weekly Timeframes.
Note
going back to the first update to this idea, heres how to C+H played out and why I expect the bears to take control through winter into springNote
Multicolor trendlines are going to be areas to pay attention to during discovery.pullback or not, the moon is closer than you think.
We need a reset on the oscillators.
Note
Note
i did not expect new ath pre halving, but the stakes are much higher and the institutional demand is here.monthly mother of all cups could be looking for a handle
Note
buckle up.
Note
Note
Note
dailyNote
edit/ last update was WEEKLY perspective. This is another look from the weekly
Note
weeklyNote
Handle formation still in progress.
Note
sma's are in proper order and inclined. price action is forming a broadening descending wedge that is the hand of a large monthly cup. Formation looks textbook to me.
Note
everything is looking good in my opinion.
Trade active
Here is the breakout of the handle on the weekly chart. Big candle breaking through descending resistance.
Related publications
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.