cheynos
Long

Something that caught my eye (4HR small update) (BTC)

BITFINEX:BTCUSD   Bitcoin / U.S. Dollar
Hello everyone
No major updates today, just a small thing that caught my eye. Let’s get straight in to this.

-So we could see a potential cup and handle pattern in the next upcoming days. We’ve found resistance at the 7.1K area for a couple of hours now and I think that the volume is way too low and the bulls are too weak to break this level at the moment. We could see a potential small pull back which could lead to a cup and handle pattern. Could also be a reversed head and shoulder but I don’t think so because the left shoulder is too small if you ask me. Nevertheless it are both bullish patterns, really curious how this is going to play out.

-If the pattern confirms, 8.35K should be our next target.


Love to hear your opinion on this!
DM's and comments are always welcome.
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Comment: Slowly but surely the cup and handle is getting created. We’ve found support at the ribbon and at the very important level 6.8K. If we can hold the price between 6.8K and 7K for another couple of days, that would be incredibly bullish for BTC in the short term.

I spotted the same last night. Although general mob opinion in "Bear below 6k" this pattern could indicate a trend reversal. Very exciting point.
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cheynos axelhunter
@axelhunter, time will tell, very curious how this is going to play out, thanks for your comment!
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