mycotoxin

Cup and a handle with green tea and cookies ?

BITTREX:BTCUSDT   Bitcoin / Tether
Cup and a handle with green tea and cookies ?
if the handle which is the current location falls lower its not
Comment: Looks like its really going down . The handle is leaving the cup
Comment: wait ,,,the handle is moving back to the cup.
Comment: looking bullish
Comment: Tha handle needs to climb up the height of the red candle then BTC move higher and faster .
Comment: if entering wait for confirmation when BTC passes the 8623 resistance ( around 8700)
Comment: first target will be 84xx
second target 89xx
Comment: if this a real cup and handle we should see a breakout at the handle around 84xx
Comment: this look like a breakout ?
Comment: its definitely behaving like a cup and handle
Comment: The measured move for this cup and handle is 933x .
Yesterday during the morning the first failed head and shoulders move also had a measured distance of 93xx ,

93xx is also an area of major resistance for BTC . Being that this value has been suggested on the graphs a few times we have to be cautious at this area and look significant events which can occur in this area.

yesterdays graph
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Comment: BTC still has to get past that right shoulder which is at 86xx . we should go down now to around 842x and BTC should then move with momentum past 86xx .

Failure to move past 86xx will be worrying as the alternative is the head and shoulder pattern. My suspicion is the end move for today may be the 93xx value

Comment: The Cup and handle formation has a noticeably increased momentum after passing the handle , so BTC should move faster upwards to the 86xx area if its a genuine "cup and handle" versus a "head and shoulder reversal" .
Comment: The upward moment should match the following notice the pattern after the breakout in the graph below - an almost straight line moving upwards at a slant. This is What we should see from BTC after the 8420 area.

https://www.investopedia.com/university/charts/charts3.asp
Comment: there are 3 white soldiers always a good sign
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What is 'Three White Soldiers'

Three white soldiers is a bullish candlestick pattern that is used to predict the reversal of the current downtrend. This pattern consists of three consecutive long-bodied candlesticks that have closed higher than the previous day, with each session's open occurring within the body of the previous candle.

Read more: Three White Soldiers - https://www.investopedia.com/terms/t/three_white_soldiers.asp

Comment: Successfully bypassing the 8600 area will also negate the head and shoulders that's been lurking in the shadows.
Comment: BTCS daily MACD has also crossed over and remains in an upwards trend - so it looks like BTC will go up a bit more although its not apparent from the current behavior
Volume will decrease in the coming 4 hours
Reply
I think is going down, no way will pass 8600 is to weak, same happen to BTC when try to pass 9000, i think today BTC will touch again 7800.
Reply
mycotoxin Houari1981
@Houari1981, Yes this is a tough spot
Reply
jeffryang24 Houari1981
@Houari1981, Yeah.. The volume is decreasing... Maybe the "artificial volume" do its job...
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