BTCUSD: this is not a cup and handle!

BITFINEX:BTCUSD   Bitcoin / U.S. Dollar
I've been seeing a lot of TA that suggests that we are seeing a potential C&H, which is not true. C&H are characterized by first and foremost by consolidation of the bottom channel. the big sell off, and thus wick, negates the concept of consolidation. While this is not a C&H, this does not mean that BTC cannot break out. There are other technicals, such as the hidden bull, that show this could be the "dip". conversely, there is also the bearish divergence.

it's a toss up. only time will tell.

Good Luck!
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