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olelowilliam
Aug 31, 2021 8:23 PM
Watching for an inverse cup and handle
BITSTAMP:BTCUSD
1D
Bitcoin / U.S. dollar
Bitstamp
Description
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Aug 31, 2021 8:23 PM
BTC is caught in a rounded top formation. Look for it to retest the curved resistance and form an inverse cup and handle. If it does happen to play out, BTC will likely dip just below 40k. Might be a good place to take a long position.
Trend Analysis
Support and Resistance
Trend Lines
Inverse Head and Shoulders
roundedtop
longposition
BTCUSD
Comments
almuminun
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Aug 31, 2021 8:51 PM
Hope so - would like to get some more!
olelowilliam
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Aug 31, 2021 9:27 PM
@almuminun
, Agreed. I'm not dreading a dip that size...probably really healthy if the bull cycle is going to reach new highs.
peterbhc
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Aug 31, 2021 8:36 PM
Nice find, let's see what happens
olelowilliam
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Aug 31, 2021 9:28 PM
@peterbhc
, Thanks. Just a little something to keep an eye on.
UnknownUnicorn23499361
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Aug 31, 2021 8:31 PM
Great analysis 😉
Thank you for sharing !
olelowilliam
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Aug 31, 2021 9:29 PM
@zenoreal
, Thanks, means a lot as I'm still pretty new to TA.
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