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BITCOIN :CAP AND HANDLE PRICE ACTION PATTERN/ / Gold Spot / U.S. Dollar CAP AND HANDLE PRICE ACTION PATTERN By TaherJalili Follow Updated Aug 14, 2020 1 5 Aug 12, 2020 The Cup with Handle is a bullish continuation pattern that marks a consolidation period followed by a breakout. The cup and handle pattern occurs in both small time frames, like a one-minute chart, and in large time frames, like daily, weekly, and monthly charts. It occurs when there is a price wave down, followed by a stabilizing period, followed by a rally of approximately equal size to the prior decline. It creates a U-shape, or the "cup" in our "cup and handle." The price then moves sideways or drifts downward within a channel—that forms the handle. The handle may also take the form of a triangle. The handle needs to be smaller than the cup. The handle should not drop into the lower half of the cup, and ideally, it should stay in the upper third. As its name implies, there are two parts to the pattern: the cup and the handle. The cup forms after an advance and looks like a bowl or rounding bottom. As the cup is completed, a trading range develops on the right-hand side and the handle is formed. A subsequent breakout from the handle's trading range signals a continuation of the prior advance. A cup and handle chart may signal either a reversal pattern or a continuation pattern. A reversal pattern occurs when the price is in a long-term downtrend, then forms a cup and handle that reverses the trend and the price starts rising. A continuation pattern occurs during an uptrend; the price is rising, forms a cup and handle, and then continues rising. Entering a Cup and Handle Trade Wait for a handle to form. The handle often takes the form of a sideways or descending channel or a triangle. Buy when the price breaks above the top of the channel or triangle. When the price moves out of the handle, the pattern is considered complete, and the price is expected to rise. While the price is expected to rise, that doesn't mean it will. The price could rise a little and then fall, it could move sideways, or it could fall right after entry. For this reason, a stop-loss is needed. Picking a Target or Profitable Exit Whatever the height of the cup is, add that height to the breakout point of the handle. That figure is the target. For example, if the cup forms between $100 and $99, and the breakout point is $100, the target is $101. Sometimes the left side of the cup is a different height than the right. Use the smaller height, and add it to the breakout point for a conservative target. Or use the larger height for an aggressive target. A Fibonacci extension indicator may also be used. Draw the extension tool from the cup low to the high on the right of the cup, and then connect it down to the handle low. The one-level, or 100%, represents a conservative price target, and 1.618, or 162%, is a very aggressive target. Therefore, targets can be placed between one and 1.618. If you're day trading and the target is not reached by the end of the day, close the position before the market closes for the day. A trailing stop-loss may also be used to get out of a position that moves close to the target but then starts to drop again. Setting a Stop-Loss A stop-loss order gets a trader out of a trade if the price drops, instead of rallying, after buying a breakout from the cup and handle formation. The stop-loss serves to control risk on the trade by selling the position if the price declines enough to invalidate the pattern Place a stop-loss below the lowest point of the handle. If the price oscillated up and down a number of times within the handle, a stop-loss might also be placed below the most recent swing low. Since the handle must occur within the upper half of the cup, a properly placed stop-loss should not end up in the lower half of the cup formation. If the stop-loss is below the half-way point of the cup, avoid the trade. Ideally, the stop-loss should be in the upper third of the cup pattern. By having the handle and stop-loss in the upper third (or upper half) of the cup, the stop-loss stays closer to the entry point, which helps improve the risk-reward ratio of the trade. The stop-loss represents the risk portion of the trade, while the target represents the reward portion. Considerations Traditionally, the cup has a pause, or stabilizing period, at the bottom of the cup, where the price moves sideways or forms a rounded bottom. It shows the price found a support level and couldn't drop below it. It helps improve the odds of the price moving higher after the breakout. A V-bottom, where the price drops and then sharply rallies may also form a cup. Some traders like these types of cups, while others avoid them. Those that like them see the V-bottom as a sharp reversal of the downtrend, which shows buyers stepped in aggressively on the right side of the pattern. Opponents of the V-bottom argue that the price didn't stabilize before bottoming, and therefore, the price may drop back to test that level. Ultimately, if the price breaks above the handle, it signals an upside move. If the trend is up, and the cup and handle forms in the middle of that trend, the buy signal has the added benefit of the overall trend. In this case, look for a strong trend heading into the cup and handle. For additional confirmation, look for the bottom of the cup to align with a longer-term support level, such as a rising ​trend-line or moving average. If the cup and handle forms after a downtrend, it could signal a reversal of the trend. To improve the odds of the pattern resulting in a real reversal, look for the downside price waves to get smaller heading into the cup and handle. The smaller down waves heading into the cup and handle provide evidence that selling is tapering off, which improves the odds of an upside move if the price breaks above the handle. Trend: To qualify as a continuation pattern, a prior trend should exist. Ideally, the trend should be a few months old and not too mature. The more mature the trend, the less chance that the pattern marks a continuation or the less upside potential. Cup: The cup should be “U” shaped and resemble a bowl or rounding bottom. A “V” shaped bottom would be considered too sharp of a reversal to qualify. The softer “U” shape ensures that the cup is a consolidation pattern with valid support at the bottom of the “U”. The perfect pattern would have equal highs on both sides of the cup, but this is not always the case. Cup Depth: Ideally, the depth of the cup should retrace 1/3 or less of the previous advance. However, with volatile markets and over-reactions, the retracement could range from 1/3 to 1/2. In extreme situations, the maximum retracement could be 2/3, which conforms with Dow Theory. Handle: After the high forms on the right side of the cup, there is a pullback that forms the handle. Sometimes this handle resembles a flag or pennant that slopes downward, other times it is just a short pullback. The handle represents the final consolidation/pullback before the big breakout and can retrace up to 1/3 of the cup's advance, but usually not more. The smaller the retracement, the more bullish the formation and significant the breakout. Sometimes it is prudent to wait for a break above the resistance line established by the highs of the cup. Duration: The cup can extend from 1 to 6 months, sometimes longer on weekly charts. The handle can be from 1 week to many weeks and ideally completes within 1-4 weeks. Volume: There should be a substantial increase in volume on the breakout above the handle's resistance. Target: The projected advance after breakout can be estimated by measuring the distance from the right peak of the cup to the bottom of the cup. Si bien se espera que el precio suba, eso no significa que lo haga. El precio podría subir un poco y luego caer, podría moverse hacia los lados, o podría caer justo después de la entrada. Por esta razón, se necesita un stop-loss. Elegir un Objetivo o Salida Rentable Cualquiera que sea la altura de la copa, agregue esa altura al punto de ruptura del mango. Esa cifra es el objetivo. Por ejemplo, si la copa se forma entre $100 y $99, y el punto de ruptura es $100, el objetivo es $101. A veces, el lado izquierdo de la copa tiene una altura diferente a la derecha. Use la altura más pequeña y agréguela al punto de ruptura para un objetivo conservador. O use la altura más grande para un objetivo agresivo. Un indicador de extensión de Fibonacci también se puede usar. Dibuja la herramienta de extensión desde la taza baja a la alta a la derecha de la taza, y luego conéctala a la manija baja. El nivel único, o 100%, representa un objetivo de precio conservador, y 1.618, o 162%, es un objetivo muy agresivo. Por lo tanto, los objetivos se pueden colocar entre uno y 1.618. Si está operando día y el objetivo no se alcanza al final del día, cierre la posición antes de que el mercado cierre el día. También se puede usar un stop-loss trasero para salir de una posición que se mueve cerca del objetivo, pero luego comienza a caer nuevamente. Establecer un Stop-Loss Una orden de stop-loss saca a un comerciante de una operación si el precio cae, en lugar de recuperarse, después de comprar una ruptura de la copa y la formación de manijas. El stop-loss sirve para controlar el riesgo en el comercio vendiendo la posición si el precio disminuye lo suficiente como para invalidar el patrón Coloque un stop-loss debajo del punto más bajo del mango. Si el precio osciló hacia arriba y hacia abajo varias veces dentro del mango, también se puede colocar un stop-loss por debajo del mínimo de swing más reciente. Dado que el mango debe ocurrir dentro de la mitad superior de la copa, un stop-loss colocado correctamente no debe terminar en la mitad inferior de la formación de la copa. Si el stop-loss está por debajo del punto medio de la copa, evite el intercambio. Idealmente, el stop-loss debe estar en el tercio superior del patrón de copa. Al tener el mango y el stop-loss en el tercio superior (o mitad superior) de la copa, el stop-loss se mantiene más cerca del punto de entrada, lo que ayuda a mejorar la relación riesgo-recompensa del comercio. El stop-loss representa la parte de riesgo de la operación, mientras que el objetivo representa la parte de recompensa.
BITSTAMP:BTCUSD
by JUANJO23
1
BTC Daily Bullish Pennant FormationThis is the daily chart for BTC/USD. BTC appears to be trading inside a triangle after a large bullish impulse. Price is currently trying to regain the 50 simple moving average (yellow line). If BTC breaks the 50 day simple moving average, I expect the price to break out of the pennant forming and test higher highs. RSI is nuetral at 52 at time time of publishing. Price action has maintained candle closes on the daily above 92k. Target for the next leg up is the 1.618 extension from the most recent High to swing low. This would put the PA around 120k. NFA, do your own DD. Thanks for viewing the idea.
BITSTAMP:BTCUSDLong
by BallsOfSteel32
BITCOIN: Just bounced on the former 4 year Resistance.Bitcoin is staging an incredible rebound on the nearly 4 year HH Resistance Zone, while being on a bullish 1D technical outlook (RSI = 61.575, MACD = 1366.600, ADX = 28.907) and a borderline overbought 1W, which really sets the tone for the rest of the bull market. This turns the former Resistance Zone into a Support, as this is the first test and bounce since it broke in November after the U.S. elections. Symmetrically, the rally since August 5th 2024 looks like the rejection since November 8th 2021. Like the rejection reached the 2.0 Fibonacci extension, we expect the current bullish wave to do the same thing. A TP = 200,000 can be easily achieved under these conditions. See how our prior idea has worked out: ## If you like our free content follow our profile to get more daily ideas. ## ## Comments and likes are greatly appreciated. ##
CRYPTO:BTCUSDLong
by InvestingScope
Bitcoin: volatility will continueMarkets were quite surprised by the latest strong US jobs data posted on Friday. It was interesting to watch the BTC chart during this period, because not only did traditional markets react in a negative manner, but also BTC had a strong drop toward the $93K levels. That is sort of confirmation that the BTC is officially part of the mainstream markets, and such volatility might be expected also in the future. However, trading week started in a pretty negative manner. The strength was weakening, as well as daily trading volumes. Investors are currently silenced, in expectation of a new US Administration on January 20th. The lowest level reached during the week was $91,4K, from which BTC rebounded. During the whole week, there has been higher volatility between levels of $93K and $95K. The $95K resistance line was tested on several occasions, but there has not been strength for higher grounds. The RSI currently moves around the level of 45, indicating that the market might easily drop toward the oversold market side. The MA50 is slowly starting its convergence toward the MA200, however, it is too early to speak about the potential cross. Current charts are showing a lower BTCs strength. In this sense, there might be some probability that the support line at $90K might be shortly tested for one more time. Still, the majority of trades occur around the $93K level, in which sense, this trend might continue for another week. The level of $95K holds currently as a strong resistance line. On a positive side is that on a daily chart Friday's trading season was in green, after the market tested the lowest level from Thursday. In this sense, the lowest level “was rejected” as it is usually said by technical analysts. This provides some positive sentiment, however, the trading volumes are currently quite weak, in which sense, a potential for higher grounds might be postponed.
BITSTAMP:BTCUSD
by XBTFX
BTC/USD chart Analysis Hello Guy's Must Support Me And Share Your Thoughts In Comments Section Thanks Trade Safely BTC/USD chart Analysis Technical Analysis: 1. Resistance and Support Zones: Resistance: The price is approaching the resistance zone near $108,500, marked as the TP2 zone. Support: Multiple supports are evident near $102,000 and $96,000. 2. Trend: The price has formed a higher high (point 7), suggesting bullish momentum. However, potential resistance at the $107,000 (TP1) level could lead to temporary consolidation. 3. Patterns: The price has shown repeated bounces from support zones (points 2, 4, 6), indicating strong buying interest at those levels. 4. Targets: Short-term: TP1 at $107,000. Medium-term: TP2 at $108,500. Fundamental and Geopolitical Context: 1. Fundamentals: Recent global adoption trends or news related to Bitcoin may be driving increased demand. Macroeconomic factors, such as inflation and central bank policies, could be influencing the bullish sentiment. 2. Geopolitical Influence: Any geopolitical instability may be enhancing Bitcoin's appeal as a hedge, pushing prices upward. Regulatory news or acceptance in key markets may further support this trend. Conclusion: The trend is bullish, with strong momentum toward resistance at $108,500. Traders should watch for a breakout above resistance or a potential pullback to the $102,000 support. Fundamental and geopolitical factors may further reinforce Bitcoin's upward movement. NOTE: This Analysis For Educational Purposes Only Not A Trading Advice
BINANCE:BTCUSDLong
by David_Josh_Trader
1
Bitcoin Idea!"🌟 Welcome to Golden Candle! 🌟 We're a team of 📈 passionate traders 📉 who love sharing our 🔍 technical analysis insights 🔎 with the TradingView community. 🌎 Our goal is to provide 💡 valuable perspectives 💡 on market trends and patterns, but 🚫 please note that our analyses are not intended as buy or sell recommendations. 🚫 Instead, they reflect our own 💭 personal attitudes and thoughts. 💭 Follow along and 📚 learn 📚 from our analyses! 📊💡"
COINBASE:BTCUSD
by Golden_candle
1
From H&S to a wedge pattern, what are the targets?Bitcoin has repeatedly tried to break below the 91k level, confirming a head-and-shoulders pattern, but all attempts, including the latest where the price dropped strongly below the support level, failed. What pattern could we work with if we are not dealing with a head and shoulders? As it stands, we are now dealing with a falling wedge. The price has bounced off the lower boundary five times, supporting this view. Falling wedges typically lead to a continuation of the previous bull trend. How can we trade it? A breakout above the falling trend-line, connecting the December 17th and January 7th highs (currently around 100k), would confirm the pattern. Ideally, the price would first test the 100K level and turn lower from the trend-line, forming a more substantial setup before breaking higher. Further confirmation would come from a break above the January 7th high of 102.82k. If successful, the pattern targets a move to 113.19k. This content is not directed to residents of the EU or UK. Any opinions, news, research, analyses, prices or other information contained on this website is provided as general market commentary and does not constitute investment advice. ThinkMarkets will not accept liability for any loss or damage including, without limitation, to any loss of profit which may arise directly or indirectly from use of or reliance on such information.
THINKMARKETS:BTCUSD
by ThinkMarkets
TRUMP'S INAUGURATION → $120.000 NEXTAs illustrated, I'm trying to visualize the possible outcome for the next couple of days. Anything could happen, but the more "obvious" sentiment is bullish to "very" bullish. The targets of $110,000 - $120,000 are very realistic within just a few hours into Trump's inauguration. Now, one must expect anything during the most volatile conditions, and a possible liquidation near ATH or even at new ATH MIGHT occur. WHY? ... Honestly... it's just one of those " too good to be true " type of things that I just simply can't ignore the probabilities that are involved in this game. It's not a crazy theory about liquidity nor am I trying to go against what we all expect and desire for BTC (which is to continue breaking ATH and beyond).. I'm simply being realistic about the different scenarios during my projected outcome. Hopefully, we get a MASSIVE BULLISH Daily bullish candle; right? (did I say bullish?)... but... hey... it's 2025. -- GOOD LUCK!
COINBASE:BTCUSDLong
by PersaGold
BTC/USD Analysis Hello Guys Must Support And Share Your Thoughts In Comments Section In My Analysis Of Bitcoin/US Dollar (BTC/USD) trading pair on a 4-hour timeframe,key technical levels and potential price movements based on technical analysis. Here's a detailed breakdown: Technical Analysis: 1. Resistance Zone (Green Area): The area between $99,300 and $101,500 represents a significant resistance zone. The price has previously tested this level multiple times but failed to break above, indicating strong selling pressure. 2. Support Zone (Red Area) : The support zone around $92,900 to $93,500 has provided a solid base for price rebounds in the past. This suggests strong buyer interest at this level. 3. Price Action & Targets: The chart suggests a potential rejection from the resistance zone near $99,300, followed by a downward movement. Target 1 (TP1) is indicated at $96,500, which aligns with intermediate support and a possible retracement level. Target 2 (TP2) is set at $94,000, closer to the primary support zone. 4. Trend & Momentum: The overall trend seems to be consolidating within the resistance and support levels, indicating indecision. The large blue arrow shows a bearish sentiment, suggesting a likely drop if the price fails to break the resistance. Fundamental Analysis Context: 1. Market Sentiment: Bitcoin might face selling pressure due to market uncertainty, profit-taking near the psychological $100,000 level, or macroeconomic events. 2. Upcoming Catalysts: Watch for macroeconomic indicators like interest rate decisions, regulatory updates, or institutional buying, which could impact Bitcoin's momentum. Positive news could lead to a breakout above resistance, while negative developments may push prices toward support levels. NOTE: This Analysis For Educational Purpose Only
CRYPTO:BTCUSDShort
by NicolusFrank
Bitcoin: a new dawnPrevious two weeks were a bit shaky for the crypto market, as investors were anticipating a changed Fed's mood for interest rate cuts during the course of this year, due to strong jobs market and potential increase in inflation. Still, December figures showed that there is no need for such a fear, so the markets returned into the positive mood. The crypto market gained during the previous week, while BTC managed to get back toward levels above the $100K. BTC started the previous week by testing the resistance line at $95K. This level was easily crossed, so BTC continued its path toward the $105,5K which was the highest weekly level. The RSI currently moves around the level of 65, leaving some space for a further surge in price, until the clear overbought market side is reached. The moving average of 50 days started a divergence from MA200, indicating that no cross will occur in the future period. The week of inauguration of the new US President-elect is ahead. The event is scheduled for Monday, January 20th. Considering his strong support to the crypto ecosystem in the pre-election period, it could be expected that the crypto market will continue to be in a positive mood. There is a chance for BTC to reach its ATH level in the week ahead, which was at $107,9K in December last year. Whether the market will be ready to push the price further to the upside is about to be seen. From the perspective of the technical analysis, levels above the $107,9K are treated as uncharted territory, so in this case, BTC will create a new history.
BITSTAMP:BTCUSD
by XBTFX