BTCUSD - 1D - Cup and Handle?
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NOT A FINANCIAL ADVISOR!!
Do you see a cup and handle??
The neckline is a bit...inclined...but...I don't believe it invalidates the bullish formation.
This would be a continuation to the upside with a target around the 70k.
Again this is just for information only! :)
Do you see a cup and handle??
The neckline is a bit...inclined...but...I don't believe it invalidates the bullish formation.
This would be a continuation to the upside with a target around the 70k.
Again this is just for information only! :)
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It is also important to note that the RSI is reacting from the support!Nota
Unfortunately 1) current daily candle is still below the daily MA20....but the day is not yet over!
2) NOT SURE IF the green ascending trendline is correctly plotted but it looks like it has been broken. => not very bullish but just another item to consider on your trading. It is possible the weekly will see this as a wick.
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In case, it stays below the Support/Resistance line at 53500 in the next 4h close, then Stop-Loss!!Nota
Considering that the daily is closing below the Support/Resistance Trendline, closing any open position would be acceptableI would still risk the possibility of a channel as part of the Cup and Handle!!!!
if it drops channel support,...you know what to do!
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In case the daily closes at the current levels, RSI would have broken the support.Awaiting for daily close to validate the RSI break.
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There is a possibility for a horizontal support on the RSI.Nevertheless waiting for the break confirmation at midnight!
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Still looking valid! Still awaiting confirmation!Nota
Still ok...Nota
Dont stress out!!
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