Perhaps the shortage of new highs makes us blind to see what the BTC is doing. I think the answer is in the recent lows; If we look closely we see a possible cup and handle pattern in formation. Normally when a resistance is very strong, the price action suggests that only time will be able to break it, and it is common in the markets to see the formation of a cup since it is the only pattern capable of generating the necessary volume accumulation.
Please trade carefully. I'm not crypto investor specialist.
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its hard predict the wick to activate the setup... But the important here is botton geometry goes well step to step lows are drawing the bootom.. this will explote to up.
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it will need new highs or price will fall strongly.
Theory goes well, appearently is respecting the geometry. Good.
carlosman7
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Hehe maybe open price was very low... But if the forecast chart pattern goes well this is a nice experience.
carlosman7
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Really I think, many crypto-investors is preferring invest on some new porjects like Theta or BAT.. The point is these investores will get theirs profits from these alt-coins and icos and will ensure his capital here in BTC... Cup&handl for me is a Wyckoff Accumulation.