I think BTC will go down to 25k starting somewhere tomorrow until early/mid feb.
After that, i believe many many more institutions will join the crypto adventure , but first they want to get the price to 22-25k ofcourse.
So while BTC is slowly going to 25k , COMP in this example will form the handle, so starting from tomorrow that is. IF btc indeed starts to rise again after 25k , let's say end feb/early march, it will take the alts with him thus letting coins like COMP, ALGO, ADA, ATOM, ... complete their handle and possibly start to moon.
In case of COMP, if the pattern would complete itself, it could also be seen as an inverted H&S (if you include price action starting at 12 aug 2020) , giving the same end result.
Target in chart. ( so we are short in short term to form the handle , but we are long in mid term after handle formation.
I'm excited to see if i can get confirmation on all of this...
Not financial advice !
Goodnight for now !
After that, i believe many many more institutions will join the crypto adventure , but first they want to get the price to 22-25k ofcourse.
So while BTC is slowly going to 25k , COMP in this example will form the handle, so starting from tomorrow that is. IF btc indeed starts to rise again after 25k , let's say end feb/early march, it will take the alts with him thus letting coins like COMP, ALGO, ADA, ATOM, ... complete their handle and possibly start to moon.
In case of COMP, if the pattern would complete itself, it could also be seen as an inverted H&S (if you include price action starting at 12 aug 2020) , giving the same end result.
Target in chart. ( so we are short in short term to form the handle , but we are long in mid term after handle formation.
I'm excited to see if i can get confirmation on all of this...
Not financial advice !
Goodnight for now !
Trade closed: target reached