BitcoinLong
BTC 1D Bullish Cup & Handle Pattern
Textbook Cup & Handle trading pattern on the 1D. Measured move is from the bottom of cup (bear market low Nov. 2022) to the top brim.
The brim, or the 2 opposing end points, must be relatively close to 180 deg. (AKA flat line) for the structure to be valid.
The handle is the bearish parallel channel to the right of the cup w the green supply and demand line. Handles must only be flat or slope downwards no more than 45 degrees.
The price opened and closed above the handle on Oct. 29, 2024 and successfully retested on Nov. 4 2024.
Expect price target of 130K. How soon? I don't know. Will it be the 2025 bull market top? I doubt it.
The brim, or the 2 opposing end points, must be relatively close to 180 deg. (AKA flat line) for the structure to be valid.
The handle is the bearish parallel channel to the right of the cup w the green supply and demand line. Handles must only be flat or slope downwards no more than 45 degrees.
The price opened and closed above the handle on Oct. 29, 2024 and successfully retested on Nov. 4 2024.
Expect price target of 130K. How soon? I don't know. Will it be the 2025 bull market top? I doubt it.
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