Bitcoin looks like it's forming a cup and handle pattern. It can either take the red or green path.
Red: immediate breakout.
Green: correction to approx. 52k and up from there.
I would say the maximum bottom of the handle is the topside of the previous range at 52666. Interestingly enough, it lines up with a 0.328 fib level.
Red: immediate breakout.
Green: correction to approx. 52k and up from there.
I would say the maximum bottom of the handle is the topside of the previous range at 52666. Interestingly enough, it lines up with a 0.328 fib level.
Note
Not sure if this cup and handle is valid anymore. Taking too much time to break out.
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.
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.