No changes in my bullish bias. I remind you I analyze in mid-long term (months, years).
Price left log downtrend channel.
Price made impulsive move up.
Price corrects on decreasing volume.
Despite bubble failed, No mid/long term bullish threat I see so far.
I connect current short term bearish activity with gold making multi year lows. But I think gold is bottoming before multi year rally.
Topic: Analysis - page 171. (Read 941563 times)
It looks more & more that this is not cup & handle, but that bitcoin is actually rising using trendline (curve) started in June.
Meh. We need more volume.
It looks more & more that this is not cup & handle, but that bitcoin is actually rising using trendline (curve) started in June.
Cup and handle triggered well in Bitcoin during consolidation from 266 top in 2013.
For targets use google - everything explained well there.
I'd consider big harm for this pattern - correction below 50% of cup. And more than 20 days. The cup top was out of daily BB and since then price should hit daily 20 sma so it did. Price needs now up to 20 days of consolidation (since top) to bring back daily bb, adx, rsi, ss to low start - as they were too overbought.
For targets use google - everything explained well there.
I'd consider big harm for this pattern - correction below 50% of cup. And more than 20 days. The cup top was out of daily BB and since then price should hit daily 20 sma so it did. Price needs now up to 20 days of consolidation (since top) to bring back daily bb, adx, rsi, ss to low start - as they were too overbought.
Although we still have very few sellers (knock on wood), this "uptrend" is looking pretty weak right now in terms of buy volume. The handle formation is looking even weaker. Your current thoughts?
That didn't last long.
Yeah... Still it doesn't take much to flip back green. Also no real volume lately.
Is that cup and hadle here 4 months long?
I'm thinking about this.
Could we still say it's possible to play out?
We just about reached the left rim of the cup, but the right rim (usually it should be equal price, but it's not in this case) is still $15 or so away. So we haven't really broken out of the handle, have we?
I'm trying to figure out if we could still be in the handle for a while and go back down to something in between 260 and 280 and then start the breakout?
masterluc suggested the handle could be up to 20 days from rim of cup (which was on 7/12), so only a couple of days left.
So... could the handle be longer than that? Is the cup & handle still valid?
'Simplest' solution to keep the pattern alive and also the 20 days intact would be a break above and beyond $315 this week, but I'm not sure that's in the cards from a shorter-term perspective.
Opinions?
Daily MACD turned green so we can expect some grow in next days
That didn't last long.
Is that cup and hadle here 4 months long?
I'm thinking about this.
Could we still say it's possible to play out?
We just about reached the left rim of the cup, but the right rim (usually it should be equal price, but it's not in this case) is still $15 or so away. So we haven't really broken out of the handle, have we?
I'm trying to figure out if we could still be in the handle for a while and go back down to something in between 260 and 280 and then start the breakout?
masterluc suggested the handle could be up to 20 days from rim of cup (which was on 7/12), so only a couple of days left.
So... could the handle be longer than that? Is the cup & handle still valid?
'Simplest' solution to keep the pattern alive and also the 20 days intact would be a break above and beyond $315 this week, but I'm not sure that's in the cards from a shorter-term perspective.
Opinions?
Daily MACD turned green so we can expect some grow in next days
My opinion: Patience is a virtue. Unexpected is king. Bitcoin is on the rise. Slow but steady wins the race.
This is no time to be a dollar bull...
This is no time to be a dollar bull...
Is that cup and hadle here 4 months long?
I'm thinking about this.
Could we still say it's possible to play out?
We just about reached the left rim of the cup, but the right rim (usually it should be equal price, but it's not in this case) is still $15 or so away. So we haven't really broken out of the handle, have we?
I'm trying to figure out if we could still be in the handle for a while and go back down to something in between 260 and 280 and then start the breakout?
masterluc suggested the handle could be up to 20 days from rim of cup (which was on 7/12), so only a couple of days left.
So... could the handle be longer than that? Is the cup & handle still valid?
'Simplest' solution to keep the pattern alive and also the 20 days intact would be a break above and beyond $315 this week, but I'm not sure that's in the cards from a shorter-term perspective.
Opinions?
Clean trendline.
Nice chart. Cup and handle pattern is even more clear on this one.
Clean trendline.
bull market confirmed，no update？
Hello everyone. Comments and thoughts about this scenario:
Very possible IMOPossibly. Also see targets of between $245 and $265 based on other indicators, EMAs, MAs, fibs on 3 day
Hello everyone. Comments and thoughts about this scenario:
Very possible IMO Yep, for those who want to take profit from this particular figure, buy point is just above the cup.
couple quick Qs -
A) do these larger timeframe patterns typically play out with btc?
B) what would the handle target be?
Partly for fun, partly serious:
I present the Matroska Cup & Handle pattern:
$1000 bitcoin party around October... see you there
EDIT: which, by the way, has worked before very well:
$1000 bitcoin party around October... see you there
EDIT: which, by the way, has worked before very well:
can there be a cup & handle inside a cup & handle ?
EDIT: so, do cup and handles typically play out in these timeframes? It looks good when we look at the 2nd pic. The first one of course doesn't really show a cup & handle.
Cup and handle triggered well in Bitcoin during consolidation from 266 top in 2013.
For targets use google - everything explained well there.
I'd consider big harm for this pattern - correction below 50% of cup. And more than 20 days. The cup top was out of daily BB and since then price should hit daily 20 sma so it did. Price needs now up to 20 days of consolidation (since top) to bring back daily bb, adx, rsi, ss to low start - as they were too overbought.
For targets use google - everything explained well there.
I'd consider big harm for this pattern - correction below 50% of cup. And more than 20 days. The cup top was out of daily BB and since then price should hit daily 20 sma so it did. Price needs now up to 20 days of consolidation (since top) to bring back daily bb, adx, rsi, ss to low start - as they were too overbought.
Yep, for those who want to take profit from this particular figure, buy point is just above the cup.
couple quick Qs -
A) do these larger timeframe patterns typically play out with btc?
B) what would the handle target be?
Also, when does this pattern turn invalid? (at what price)
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