BTS/BTC - Cup & Handle - 1D
Updated
A cup & handle formed on the daily as I predicted yesterday. We can set the target at ~195 sats using Fibonacci retracement. This is slightly below the Fibonacci level.
It might be smart to sell here, wait for a sell off and buy it back a tad cheaper.
Cup and handle is a bullish pattern that indicates an upward movement after completion. In the current situation, this would indicate that we will see upward movement the coming week.
Bitshares is also going to make an announcement today regarding staking & NFTs, which could give us more upward momentum.
The MACD has bounced, giving us room for bullish continuation. The StochRSI is also low and pointing upwards, which could indicate bullish continuation aswell. We have hit the 150 sats zone a lot recently, we have to break through these levels. If this happens, I believe we can easily approach 200 sats in a short period of time.
I think BTS is looking good, both on short and long term. The coin is heavily undervalued and I believe it will most certainly reach its 1$ ATH again.
For the short term, you can use Fibonacci retracement tool to find major sell off points. On the medium term, I think 0,095$, 0,11$ and 0,20$ are good targets.
And for the long term, I think this coin can become worth anywhere between 1 and 15$.
It might be smart to sell here, wait for a sell off and buy it back a tad cheaper.
Cup and handle is a bullish pattern that indicates an upward movement after completion. In the current situation, this would indicate that we will see upward movement the coming week.
Bitshares is also going to make an announcement today regarding staking & NFTs, which could give us more upward momentum.
The MACD has bounced, giving us room for bullish continuation. The StochRSI is also low and pointing upwards, which could indicate bullish continuation aswell. We have hit the 150 sats zone a lot recently, we have to break through these levels. If this happens, I believe we can easily approach 200 sats in a short period of time.
I think BTS is looking good, both on short and long term. The coin is heavily undervalued and I believe it will most certainly reach its 1$ ATH again.
For the short term, you can use Fibonacci retracement tool to find major sell off points. On the medium term, I think 0,095$, 0,11$ and 0,20$ are good targets.
And for the long term, I think this coin can become worth anywhere between 1 and 15$.
Note
Seems like this pattern is working out very nicely. Lets hope it closes at a decent height today so we can confirm the pattern,
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.