BITCOIN is creating a potential Cup & Handle formation.
BTC is currently, potentially creating a smaller Cup & Handle formation. (In white) And, a potentially larger Cup & Handle formation. (In Blue)
Bitcoin has been on an absolute tear the past few days, and these formations could come into play down the road if price action continues to fill them out. Whether it will be the smaller (White) Cup & Handle, the larger (Blue), or a Cup & Handle pattern at all remains to be seen, but will become clearer in the coming weeks/months.
These formations are speculation at this point, but I just wanted to point out the potential for each to occur down the road if the current trend continues.
Good luck, and always use a stop loss.
Bitcoin has been on an absolute tear the past few days, and these formations could come into play down the road if price action continues to fill them out. Whether it will be the smaller (White) Cup & Handle, the larger (Blue), or a Cup & Handle pattern at all remains to be seen, but will become clearer in the coming weeks/months.
These formations are speculation at this point, but I just wanted to point out the potential for each to occur down the road if the current trend continues.
Good luck, and always use a stop loss.
Comment:
I will be updating this chart later today. It appears that the expanded cup (blue cup) will be the one that comes into play, so we can expect at the least for Bitcoin to get close to, or set a new-all-time-high before pulling back and forming the handle.