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TheTrex
Jan 15, 2018 8:30 AM

BTSBTC - Daily Chart "Cup and Handle or not?" Short

BitShares / BitcoinPoloniex

Description

Should be retesting blue curve, the prior larger fractal could repeat thus invalidating a cup and handle (handle should be in making now then). If we break blue curve strong odds that we are not making cup and handle for higher levels and the previous fractal repeats.

Good luck trading,
-TheTrex

Comment

MACD still comming down on daily. Stoch RSI looks low but could continue, macd bullish cross over would be better signal to buy.

Comment

So support levels are:
0.0000365, 50% retracenent
0.0000315, 58.6% retracement
0.0000296, 61.8% retracement

Comment

Short target reached, should bounce now

Trade closed: target reached

Target reached
Comments
Gemini47
Woah churned this one out quick! :)

Based on your comments would you say the fractal price spike from 6/07-6/10 has already occurred for this cycle? Current MACD fractal looks like 5/03-6/03 before the big moonshot on 6/07-6/10/
cryptoc4l
@KennethTran, following this. also, relative to STR & XRP and their market cycle timings we should be approaching a pump. not currently in BTS but this does look interesting
baldambition
Just FYI, this looks seasonal to me. Data shows BTC hit its annual low in the second week of January for 2015 (low was Jan 15), 2016 (low was Jan 16), 2017 (low was Jan 12).
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