DrDovetail

another look at the massive weekly chart C&H still in play

Long
COINBASE:BTCUSD   Bitcoin
a revisit of an early July chart...It looks like it may be about to break up from its handle lots of bullish patterns breaking above their top trendlines right now on the micro and macro levels and multiple timelines. A perfect storm. However we have a few overhead resistances we will have to watchout for along the way to 25 and then 36 K. The firs ones are just above our heads right now at 12.2k and 12.4k those should hopefully be easy to clear. after we surpass those roadbumps, on our path to reach our 3hr diamond breakout target of 13070, and our 1day chart adam and eve double bottom breakout target at 13134 we will encounter resistance just above those around 13735 of the cup and handle neckline after surpassing that we will be on the path to hit our 1 day bullflag target at 14070,...it should then be blue skies all the way to the yellow symmetrical triangle(handles) breakout target of 15639 which will then begin to trigger the weekly cup and handle...however on the way up to the c&h's 25k breakout target we will have 2 main major resistances to consider: the first one being around where the strong ascending resistance trendline that stretches back to 2011 on the BLX liquid index chart(not shown here) if we were to retest its resistance today, it would currently be at 17,777...however since its gonna take awhile to get there the longer t takes us to get to that range the higher that resistance will be because it is an ascending trendline....so if it takes us long enough it might even become double reinforced resistance with our ath at 19900...I will be keeping an eye on that ascending line o se if we go high enough to retest it before then...my presumption here is that when we retest the ath horizontal, we will be initially rejected and correct maybe 1-3 months before overcoming it forming an even bigger cup and handle in the process while still on the way to our initial c$h 25k target...I anticipate the bigger cup and handles breakout target to be somewhere closer to 36k. Let's see how well all of this pans out.
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