BTC looks to be forming a pattern, both possibilities are bullish.
- Firstly is this cup and handle forming, this paired with a fibonacci retracement looks pretty confluent. The 0.5 was touched and bounced off, and the .382 and .236 is being well respected as well.
This if broken out past the 9700 area will result likely in a 8% gain towards $10500 region.
- Secondly is an ascending triangle. This is similar to the cup and handle, and points towards a similar area.
I personally thought that the CME gap would first be at least filled, and either bounced off of or smashed through. But these charts suggest otherwise.
Keep in mind that any break of the trend line or the handle makes these invalid...
- Firstly is this cup and handle forming, this paired with a fibonacci retracement looks pretty confluent. The 0.5 was touched and bounced off, and the .382 and .236 is being well respected as well.
This if broken out past the 9700 area will result likely in a 8% gain towards $10500 region.
- Secondly is an ascending triangle. This is similar to the cup and handle, and points towards a similar area.
I personally thought that the CME gap would first be at least filled, and either bounced off of or smashed through. But these charts suggest otherwise.
Keep in mind that any break of the trend line or the handle makes these invalid...
Comment:
Trade closed, patterns invalid.
