Bitcoin seems to be forming a perfect ballistic curve! While there is officially no such pattern recognized in trading (not that I know of), it is very interesting to look at the "physics" behind it. How does ballistic curve form?
Ballistic curve normally forms when an object is shot with a certain velocity, in the gravity field*. It gets momentum upwards only at ...
This is an hourly chart that I Find to be very trendy. The 50% overall angle of attack makes this a measured move and I believe we are forming the head at the moment of a failed cup and handle quite perfectly on a 50 degree angle of attack. The right shoulder should form around 2675 area. Then, continuation of the daily Inverted Cup and Handle.
A) The blue rectangle indicates the area of possible rebound to continue movement
B) The red rectangle indicates the area that calls into question the continuation of the movement
C) The black rectangle cancels continuation of trend
The price dropped to the black rectangle and on 6th of February the trend was changed to a downward ...
This is no financial advice.
Today I expect the Bear-Flag which forms the handle of the inverted cup and handle to break to the downside. And yes, the handle of inverted cup and handles do look like Bear-Flags. No much more to say. I don`t see indications to the upside.
EOS has formed inverted cup and handle and if it breaks Support 1, it may go down till Support 2 (Technically it should go till Red Line, but being fundamentally strong, I doubt it will), which is previous resistance.
Also MACD is trending down.
But zooming out on chart, is a huge HUGE Cup and Handle meaning it won't be too long before it bounces hard.
Do your ...
OMG is still following the newly established upward trend. However a slight market correction has been reached and has now formed an Inverted Cup & Handle Formation. After this short correction I believe we will continue to see a bullish run with OMG. Watch for breakout once the main line of Resistance is broken. As stated before always use a trailing stop-loss to ...
DO NOT TRADE THIS CHART. It seems like the handle has formed but still trending upwards. I was wanting to get a word of advice from more experienced traders that have seen this formation or trades BTC. Is the formation still valid lets say it broke support and we are likely to see a 16 % decline ? Do share your ideas please , it will greatly enhance my knowledge.