This is a massive cup
And handle. This means you can’t expect it to play out quickly. But as you can see from the breakout it does move have momentum. So it’s active to about 500$. That’s a huge move. 40%! Capturing even a piece of this would be great for anyone! But keep in mind. Might be a better leap or even short term spread?
Every single day this past week was a shooting star. And going down. Which made the week chart look like a spinning top. If you look at all the indicators it’s also very bearish as well. Now I’m just sitting here like biggie. Saying “gimme the loot!”
Also there is a trend line you can place on the 1 day chart and its following that very well. Looking for it to...
Could go up or down from here. Indicators show a good chance of a bounce to happen but price and volume are more iffy. Let’s hope it did what it did recently in the past.
Stay with me here. A lot of technical converging on one spot. First there’s a wedge on the 4hour/1day chart. East to see. And within that wedge it’s firing at cup and handle right at the break out point of the wedge. So the ,what imma call small cup, is meeting the same break out point as the wedge. That’s a good sight.
Then you get to hit the mega zoom out. On...
This is a solid cup and handle. And it’s about to break out. Could go straight there. Or could have a test on that break out like. But in this cycle, I have high expectations for it.
It’s not perfect. But it’s there. I noticed it on the 1day chart and then zoomed in to the 1 hour chart. It becomes more defined. It’s not complete on the handle. But if it does. That could lead to the break out of about 103k-ish.
There are tones of btc views out here. Just figured I thought mine into the pot. Mine is short term. Maybe see this in a week or two....
