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MoonPickle

BTGUSD 2H Giant Cup and Handle

Long
MoonPickle Updated   
BITFINEX:BTGUSD   None
Trend Analysis Chart Patterns Cup And Handle BTG BTGUSD btfd Bitcoin (Cryptocurrency) BTCUSD BTC Cryptocurrency bitcoingold
4
17
trendanalysis chartpattern cupandhandle btg btgusd btfd bitcoin btcusd btc cryptocurrency bitcoingold
Classic cup and handle pattern has formed. Volume breakouts at critical places confirm the pattern

Based on the size, it should send this up to 591.91 (fib 1.272)
Comment:
TP target in this TA:

BTGUSD H4 LONG
Trade active
Comment:
some consolidation in this range is expected before next legs up
Comment:
bullish pennant on 4H:

snapshot
Comment:
coiling action:

snapshot
Comment:
Forgot to add, $BTG is done with the ABC correction (EW patterns).

I don't usually apply EW analysis, but is clear here.

Red PSAR = A
Green PSAR = B
Red PSAR = C

This leg should range a bit before moving up.
Comment:
The bitcoin hedge is real. Here's the comparison:

snapshot
Trade closed manually:
not interested in hedging against BTC at the moment, due to strong price action.

will revisit this trade during the multi-month bear season

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MoonPickle
BTGUSD H4 LONG
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