BTC - Cup and Handle formation is formed. Get Ready for 17000

BITMEX:XBTUSD   Bitcoin / US Dollar Perpetual Inverse Swap Contract
A clear cup and handle formation is formed on the BTC chart. The projected advance after breakout can be estimated by measuring the distance from the right peak of the cup to the bottom of the cup. This brings us to 17224 level - which is also a huge resistance.

Tom Demark count is currently green 8 on the daily chart . Which means we can have 1 more day of bull trend. After that I expect a sideways run up to 2 days, then I expect the bull run to start again. On the weekly chart we are currenly at green 2, if we close this week with green 2, that will be a clear long term bullish sign and we will reach our target 17000 in a few weeks.

Please keep in mind that this is a long term analysis.

Here is my trading idea:

Long at: 11400
Take profit at: 17000
Stop Loss: 9900

Trade closed: stop reached: Because of the SEC and Binance news price has dropped enormously. Stop loss has been triggered. This trade is no longer active.
fkn news ruining everything!
+1 Reply
hocam acil yorum lazim twit burasi youtube neresi olursa.
trade devam m hocam?
hocam önce bi 8-9 yapar m ki? long yükseli öncesi düsüs beklentiniz var m?
+2 Reply
@DoubleF, 10300 altina dusecegini dusunmuyorum. Dusersek bu analiz gecersiz olacaktir.
DoubleF EylemCulculoglu
@EylemCulculoglu, Saol hocam.
tmac0606 EylemCulculoglu
@EylemCulculoglu, hocam 10300 altna düstugu için analiz geçersiz midir? hacimde azaldi
@tmac0606, Evet stop loss'un altina indik. Analiz gecersiz. Haberler yuzunden teknik islemedi.
cup and handle için bir cok kural ihlali var bu formasyon tutmaz hocam. yatay da hacim SIKILASMASI YOK. kulp formasyonu 0.5 fibo destegine kadar inmemis. zor
Hello, do you think that there will be resistance on first red line? thank you.
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