TRXBTC on hourly chart. This chart formation appears in all time frames, as well as supported with the necessary ingrredients like increasing volume at the Handle and low volume at the center of the cup. the previous all time high and a new high, the down-trending channel for the cup and the rounding bottom of the cup.
However, this formation could also fail, e.g. the handle gets lenghten and decreasing volume towards the breakout resistance line.
It is however interesting to see such a nearly Cup & Handle shape which is developing at this moment.
I have put the Fibonacci tool in this although it is not actually the conventional part of it.I am just toying with the Fib Tool (Please do not take it seriously though). However the it is interesting to note that the depth of the bowl measures the Golden Ratio 0.618.
I welcome any expert comments and criticisms :-)
However, this formation could also fail, e.g. the handle gets lenghten and decreasing volume towards the breakout resistance line.
It is however interesting to see such a nearly Cup & Handle shape which is developing at this moment.
I have put the Fibonacci tool in this although it is not actually the conventional part of it.I am just toying with the Fib Tool (Please do not take it seriously though). However the it is interesting to note that the depth of the bowl measures the Golden Ratio 0.618.
I welcome any expert comments and criticisms :-)
Trade active:
Trade active:
TRXBTC - Looking at the volume we had earlier, this has the potential to break the C&H Breakout Line. Kindly refer to original post for the target
Comment:
From APR 3rd to MAY 10th wow that took a very long time to reach the target. But nevertheless it is there!!!