Bitcoin looks like it's forming a cup and handle pattern. It can either take the red or green path.
Red: immediate breakout.
Green: correction to approx. 52k and up from there.
I would say the maximum bottom of the handle is the topside of the previous range at 52666. Interestingly enough, it lines up with a 0.328 fib level.
Red: immediate breakout.
Green: correction to approx. 52k and up from there.
I would say the maximum bottom of the handle is the topside of the previous range at 52666. Interestingly enough, it lines up with a 0.328 fib level.
Comment:
Not sure if this cup and handle is valid anymore. Taking too much time to break out.