Turco

Cup and Handle Formation - Long if we push past $249-250

BITFINEX:BTCUSD   Bitcoin / Dollar
IF we can complete the handle formation and push past $249-250, a short term price target of $270+ is realistic.
Crazy waiting session
+1 Reply
Turco PraiseYah
I bet a lot of people got shaken out of that move.
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i could be wrong just my opinion .... but i only pay attention to bitcoin c&h's that generally have shooting stars at each end of the rim high to low... those are pretty obvious because you could actually see the strength in w/e indicator you feel comfortable using.
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Turco PraiseYah
You may be right, the world of Bitcoin can be a whole different animal sometimes. We will get our answer soon enough.
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take a look at Mid March till Mid July .... i think we get a similar cup like that again ... drop to about 220s then we rocket past 300 on the next run


snapshot
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Turco PraiseYah
Agreed, that was a clear cup and handle from March - July, unfortunately that one failed. Generally a large portion of the C&H's I have seen in BTC, have not resolved bullishly.
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doesnt look like a bitcoin cup & handle to me ... ill be careful
+1 Reply
Turco PraiseYah
Yea I am still neutral, until we break $249-250. However, it looks like a C&H to me, and the handle is relatively small so far. Generally, the smaller the pullback / handle, the more bullish the breakout. We will see...
+2 Reply
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