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Bitcoin_Altcoin
May 13, 2014 9:09 PM

Extreme Bull Mode. Cup and Handle  Long

Description

I know it is way to early to call this, but I could see something like this happening. I remember a large Cup and Handle forming after the rise in April 2013. It was a long period of consolidation followed by a quick drop and then an extreme bull run from ~110 to ~1000 (or ~ 2000 if your were trading on Gox). We may be in a similar period of consolidation right now. The dotted yellow line marks where I think the bottom of this cup is. If this pans out we will still likely have a rocky and highly volatile market but it should on average stay on course of the orange cup.
Comments
Sohale_KPU
Not bad. But if you look at past bull cycles, the rise takes quite a sharp turn upwards. If your analysis is accurate I wouldn't assume a rise to continue into 2015.
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