I think we're going to bounce around the mean line for a few months before a move upward.
I just can't let this cup and handle pattern escape me. I need to share it with anyone who cares.. It's just too beautiful to fail. Not trading advice.
I think Ethereum may be forming a year long cup and handle.
If it smells like a bubble and looks like a bubble.. honestly, I'm OK with a return to the mean and a nice 2018 -2019 buildup (probably to another bubble.)
I realize there is a lot at play here outside of TA. We have the futures market possibly controlling some of the moves, we have regulation FUD spreading like wild fire.. but hey we've been through worse. Remember when China banned crypto a few months ago? Yeah, that went away quick. Only 1% of the global population holds cryptocurrency... Just think about that for...
overall, I'm bullish on this coin, mainly because I'm bullish on crypto in general. In the short term, you can probably pick this one up at a cheaper price over the next week or so.
It seems as though Bitcoin has clearly presesnted a downward channel on the daily chart, that we are able to articulate a bullish ABCD pattern within. Hopefully we see a breakout of the channel to a new ATH. Trade safely my friends.
A little fun with trend lines and Fib retracement. We know BTC is going down, where does it turn around A. B. or C.? If only we had the knowledge to call the exact bottom. I'm going to average it out and say B. Let's see what happens.
Hi All, we are presented with a beautiful upward channel. Not to mention, there's a lot of hype in these industries. Targets in chart. Trade at your own risk. Have a good day!