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denebr
Mar 9, 2021 3:04 PM

CAN Double bottom/Cup and Handle Long

Canaan Inc.NASDAQ

Description

Looking nice with the chart pattern here with CAN. seeing what looks like a double bottom or cup and handle through 4h & Daily time frame. Plus added confirmation of Bitcoin breakout. CAN compared to MARA & RIOT, looks like there still room for price increase. leaning towards the long side on this one still.
Comments
Pokethebear
Mkt cap / EV looks like BTC already valued at 10x current.
Jljpsp
Where do you see this going?
denebr
@Jljpsp, IMO the upside is limitless but if we want to be optimistic, below $100 is the price target for me , seeing RIOT's & MARA's price action with multiple gap ups every opening is a good sign of strong demand for this sector. though as long as bitcoin increase, same thing will apply to these kinds of stocks
Jljpsp
@denebr, thanks for the insight!
denebr
@Jljpsp, Anytime!
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