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Cup-handle

Potential Inverted Head & Shoulder Pattern on 4hr chartAfter seeing a nice fakeout on the daily of the inverted cup and handle pattern we are now seeing the 4hr chart form both a higher high and at least for now what appears like it will be a follow up higher low...if so the odds are favorable of following that up with another higher high and in doing so very likely we could trigger this currently developing inverted head and shoulder pattern. Though the 4hr chart is looking bullish we must still keep in mind that on the 1 day chart we have a giant bear flag and an inverted c up and handle to tend with...one of these 2 paths will be chosen either the bullish 4hr chart scenario will p;ay out or the bearish 1 day chart scenario. So be ready for either this idea for these reasons will be listed as neutral.
BITFINEX:BTCUSD
by DrDovetail
Amlook at the weekly chart.We can see last after being knocked down by the 50ma on the 1 week chart that last week's candle has closed back inside the descending triangle pattern invalidating the previous week's breakout...we also seem to have formed a nice handle for a 1 week chart cup and handle pattern however we don't want the handle to dip much lower than it already has or we will be less and less likely to trigger a cup and handle. Look for this week's candle to maintain the 1 day chart's 50ma as support. If it can then we should hopefully be able to break right back upwards out of the descending triangle pattern and hopefully maintain the breakout this next time. If we fall under the 1 day 50ma and it flips to resistance we could prolong our fall to 6.5k or even 6-6.1k but I'm trying to remain optimistic for now.
BITFINEX:BTCUSD
by DrDovetail
Correction continues; potential C&H + 3 possible support zones3 lines of potential support for this fall I'm seeing our number 1 at 7413 which is top trendline of the big descending triangle pattern / adam and eve neckline we broke up from # 2 is the 4hr 200ma at 7060-7080 #3 is the 1 day charts 50ma at $6853..to have a chance at forming a higher low on the day chart, triggering the current cup and handle unfolding and the 1 day golden cross one of these will likely have to remain support. If we can remain above the 1 day 50 MA then this will just be a correction that will inevitably resume the uptrend and the golden cross should occur hopefully sooner than originally planned, coupled with some positive ETF news to help us break out of this handle, break above the neckline and potentially trigger the cup!however a few closes under the 1 day 50ma and then we could be looking at an impending lower low on the 1 day chart. In the short term I'm short...but long in the longterm. Good luck and thnaks for reading! **not financial advice**.
BITFINEX:BTCUSDShort
by DrDovetail
BTC may be forming a cup and handle.Just my opinion, but with both the 4hr charts rsi and stochrsi well exhausted and well into the overbought zone and the 1 day chart's indicators now just reaching overbought conditions, I don't think we will be able to sustain an immediate breakout of the inverted head and shoulder pattern and a small correction is due to reset these indicator levels before a breakout can be sustained. at the same time we would like to see the price reach $6850 or so before any type of correction or retracement to establish a higher high on the 1 day chart and keep the ball in the bulls court. We can also see a very cup like price pattern has formed on this right shoulder. Also keep in mind that cme futures are set to expire on July 27th. All things considered my guess is that one of the 4hr candles that occur today will hit the $6850 region to complete the rimline of this cup pattern and then for the next 10 days or so we will see it form a handle until those futures expire at which point we will break above the cups rimline, the neckline of the inverse head and shoulder and the symmetrical triangle pattern we are in. Perhaps it will be Q3 which is the bullish one this year.
BITFINEX:BTCUSD
by DrDovetail
1
We broke below the rimline of an inverted cup and handle.Something to be aware of. I have mentioned a potential inverted cup and handle awhile back maybe 3-5 ideas back...well with the latest drops we broke under that inv c&h's rimline which triggered a steeper fall. This is an incredibly deep cup and if it were to reach 100% of its projected target it could send us all the way to 4-.4.1k We have seen many normal cup and handles recently that have not reached 100% of their target however but we have also seen ones for example tron who have far exceeded their breakout target. So it's very much worth being aware of. At the same time there is a slight chance we could see a triple bottom form with February and April's lows and go skyrocketing back upward...or even just a double bottom with April's low. Definitely a difficult time to decide to be bull or bear...so in these instances it's best to follow the higher high/higher low principle as well as the lower low/lower high. By going by that principle alone it's not the wisest to enter right now...If you are hoping to potentially catch the double or triple bottom it may not be a bad idea to enter with a tight stop loss though. However it's best if you make your own decisions because this is not meant to be taken as financial advice. Good luck in whatever you choose and may the probabilities be on your side.
BITFINEX:BTCUSD
by DrDovetail
3
looking to form a higher low..potential h&s in playThe recent dip back to the 4hour 50ma has us looking for a bounce and hopefully forming another higher low to continue the series of higher lows/higher highs. However, it sent a bear wick under the 50ma before bouncing back upward and that wick dropped down to the exact level it would need to complete the head of a new potential head and shoulder pattern. Because of this it is imperative that on the next leg up we form another higher high otherwise the odds of forming the right shoulder of this potential head and shoulder pattern will be of a very high probability. Furthermore if we were to trigger that head and shoulder pattern there is a much larger inverted cup and handle pattern that could potentially be triggered shortly afterwards. Seeing a higher high after this higher low forms is very important, and if not at least an additional higher low or 2 until we reach that higher high. Hopefully this is what occurs...the inverted head and shoulder pattern we just broke above failed to reach its target breakout though so maybe the same would be true with a regular head and shoulder pattern as well. Stay cautious and vigilant and prepared for either outcome and you should be fine. I'm still optimistic of a bull run, but ready for the opposite.
BITFINEX:BTCUSD
by DrDovetail
4
Cup N' Handle almost complete!Hey TradingView, We are the Cryptono Vikings, a free Discord community where you can come to learn technical analysis for free at your own speed! Come join us discord.gg Today we bring you the Cup N' Handle. This pattern I found someone else charted but I couldn't find it again and I figured it would be a good lesson to try charting it myself and make my own targets etc. So I drew my top resistance line and measured the bottom to the top of the cup, to see if the handle is less than 50% and it is just shy of it which means it is valid. Next step was to take that distance and add it on top of the resistance line to get your target. My suspicion is that either we complete this pattern slightly before or right on main net launch, and then we go skyward :) My Target: 1800 sats Oddly enough, I have seen others project 1800 sats, and that is just the beginning :) This idea is for reference and educational purposes. Cup N' Handle Pattern: www.investopedia.com Trade safe my friends :)
Long
by leshacat
6
Steem possible cup & handle formationHello all, after 2 weeks of holidays in back in the crypto world! Steem is showing a possible cup&handle formation, An healthy retracement followed the strong uptrend happened in during April, in this scenario the impulsive 5 waves and ABC correction are clearly visible. On the daily chart supports match well with the fibonacci retracement, the price actually sit on a 4hr support and seems to consolidate but could briefly touch the next stronger support around 3500sat, could also be the end of C leg and the 0.618fib On the H4 timeline the falling wedge is squeezing but is also visible a small hidden bearish RSI divergence, this could shortly lead right in the daily support I mentioned before. Next hours should tell us more information, watch out the price for a possible reversal signal!
Long
by Horrorcoder
Ethereum potentially reach neckline of its cup and handle.Keep in mind to the left of the cups left side of its rim is a higher candle wick which could potentially be the real rim of the cup and the cup could be deeper and have yet to have formed its rim...We will know whether or not the current neckline is the real neckline of ethereum's cup when we see large bull volume after we break the neckline within the first 3 consecutive 4hr candle closes above it. If not we have most likely not formed our cup yet and have will thus more dipping to so
Long
by DrDovetail
1
Current bullflag has morphed into ascending triangle bullpennantWe can see on the 4 hr chart the current bull flag has started to morph into an ascending triangle bull pennant. Probability is good it will break upward....that should trigger the cup and handle that is still in play if that cup and handle is valid....However this entire bull runs price action also appears to be trapped inside a rising wedge which are patterns that usually break downward...It is worth keeping an eye on because if somehow broke downward it's projected drop target could actually take it under the eve bottom trendline. I have marked it on this chart wth 2 blue trendlines. It was not the easiest trendlines to keep consistent so I'm hoping the wedge is invalid as I would really like to see this adam and eve bottom be validated and triggered. So hopefully the cup and handle is triggered instead and lifts us out of this potential rising wedge pattern.
BITFINEX:BTCUSDLong
by DrDovetail
6
XLM/BTC - C&H?XLM/BTC: Looks to be forming a cup and handle, just waiting on the handle to form to give us a nice entry position. XLM should correct/retrace sooner than later from its recent bull run, which will allow a handle to form. Buy area and Stop Loss have been set, watch buy area closely, XLM tends to retrace larger than usually expected, XLM may dip down to the 0.5 Fib line (blue one). Indicators: - RSI overbought on the Daily, be wary of this. Though, as a wise man once said, "an overbought RSI can be a buy signal in a Bullish market"...idk who that wise man was. - MACD looks decent on the Daily chart, still showing no signs of a downward cross. -Ichimoku Cloud a thin green cloud rising upwards. Could be thinning more, indicating a new trend (such as a correction). Either way, XLM still well above the Cloud on the Daily charts. - Volume looks good on the Daily chart, very green, little red, with a decent amount of volume taking place (though we will need a higher volume to send on another leg up without any correction). Long Term Targets: Target 1 - 0.00001356 Target 2 - 0.00002605
Long
by Vermillionz
OMG - Small Dip then MoonOversold on the RSI, Stoch RSI has bearish cross. Forming an inverse head and shoulders pattern. Hold off on buying for a couple weeks and watch for the shoulder to form. I'm hoping for a dip of about 10%. Remember, with another crypto bull market beginning to form, pumps can happen very quick, so watch closely! Or, buy now and stay on the safe side, we will see some serious gains soon. :) OMG has been on a lot of peoples watch list since its release. 2018 will be a big year for OMG, with the wallet and staking going live during Q2 this year. When it first released, the hype for OMG was huge, but it slowly died down. With the live product coming closer and closer, expect that hype to build back up, as well as staking to remove portion of the token supply being traded.
Long
by green_brow