Get started
mycotoxin

BTC - Cant be done moving up as the "handle" stops at 9744

Bitcoin (BITSTAMP:BTCUSD)  
mycotoxin Updated   
BITSTAMP:BTCUSD   Bitcoin
Trend Analysis
7
2
trendanalysis

BTC- This pattern is a "cup and handle reversed" - this is different from an inverted cup and handle -
Using the Bitstamp graphs show that
the 'handle" on this reverse cup and handle goes till 9744 -
The 9744 figure is calculated using 2X the distance from the bottom of the cup till the top of the cup - when a line is drawn down to where the "handle" intersects the line the point is around 9744 .
So BTC cannot be done moving up yet as 9744 has not been hit yet . BTC should complete the move to 9744 after this correction.
Comment:
The Bitfinex graph is giving erroneous information and Im redoing the graph below using the BITSTAMP charts

BTC - A Reversed "Cup and Handle" moving to 6159
Comment:
update below

BTC - Minimum move down has to touch the .50 Fib at 58xx
Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.