long entry = break of horizontal resistance on volume (and no sooner)
SL = BE or appropriate level below BE
target = measured from depth of cup
wildcards - SEC COIN ETF decision, PBoC announcements/regulations
Further explanation of a C&H here:
Cryptic Traders, BTC came out of a bear Cypher and straight into forming either a bull bat or a bull cypher with XAB and possibly C (if a bat) completed. See RSI in over bought territory suggesting more BAT. So a break of the trend line (red triangle line) could result in a move down to $789. A break of $1075 could ...
its 3 weeks til sec decides about the COINETF (March 11)
bitcoin chart looks like we are going to a new high once $1080 is broken.
It seems like the etf gets priced in, I think this could lead to a pump and dump because i expect the ETF not to get approved for a simple reason:
What should happen with the etf if ...
Bitcoin has really pushed above everyones exceptions and I'm sure this has turned plenty of sellers into buyer. However, I'm not convinced that this goes on for too long. I think we are setting up for a selloff.
The arrows and pink triangle are just wild estimations...but you get the idea, we continue on up as FOMO kicks in to test the old ATH...then people get short...then we make a small new high to take out the early shorters...then we come back down to create the illusion of a H+S top. This also will create the ...