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

BITFINEX:BTCUSD240

Bitcoin / DollarBitfinex

Description

⋅ Oct 9, 2015 9:47 PM

IF we can complete the handle formation and push past $249-250, a short term price target of $270+ is realistic.

Comments

YoungMuda

⋅ Oct 13, 2015 4:48 AM

Crazy waiting session

Turco

⋅ Oct 13, 2015 1:56 PM

I bet a lot of people got shaken out of that move.

YoungMuda

⋅ Oct 9, 2015 10:08 PM

doesnt look like a bitcoin cup & handle to me ... ill be careful

Turco

⋅ Oct 9, 2015 10:20 PM

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...

YoungMuda

⋅ Oct 9, 2015 10:29 PM

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.

Turco

⋅ Oct 9, 2015 10:35 PM

You may be right, the world of Bitcoin can be a whole different animal sometimes. We will get our answer soon enough.

YoungMuda

⋅ Oct 9, 2015 10:12 PM

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

Turco

⋅ Oct 9, 2015 10:15 PM

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.