TradingView
Mr_KnowHow
Dec 4, 2019 2:15 PM

Cup&Handle forming after an Inverse Head&Shoulder  

Bitcoin / U.S. dollarBitstamp

Description

Cup&Handle forming after an Inverse Head&Shoulder.
If it completes the handle, target is $9000.
Neutral.
Comments
In_the_future
Totally agree. I'm just not seeing high sell volumes, outside of liquidation of poor suckers that are trying to make gains using leverage.
Mr_KnowHow
@jesdo1977, Have you ever witnessed a guy who had gains from leverage trading? I haven't. :D
Thanks bye the way for your comment.
In_the_future
@Mr_KnowHow, You can totally make great gains on leverage but it's SO HARD to manage that long term. I think Warren Buffet says it well. "History tells us that leverage all too often produces zeroes, even when it is employed by very smart people."
Mr_KnowHow
@jesdo1977, Maybe I can do it with shitty fiat but not bitcoin. Not brave (and smart) enough.
In_the_future
@Mr_KnowHow, Bitcoin is WAY to volatile for that kind of stuff. Unfortunately, it's all the rage right now. My theory is that we're going to see some strong Bart patterns to zero those kind of people out in order to slow down leverage platforms for a run higher.
Mr_KnowHow
@jesdo1977, Arthur Hayes liked this.
mycotoxin
Good eye and hope this plays out . however the handle cannot be more than 50% of the length of the cup and the handle here moves past the 50% mark .
its pretty close so who knows and it may just play out,
Mr_KnowHow
@mycotoxin, thanks for the comment
In_the_future
@mycotoxin, Agreed. It's slightly over the normal bounds but close enough to where it could still play out.
More