The frequently discussed cup and handle pattern is still possible. Here's why:
If the BTC will not break the weekly 20MA, there is a falling wedge pattern playing out, as seen in bold white on the attached chart.
A chance of this falling wedge bullish breakout is even higher because the 50% Fibonacci level seems to remark a bottom line here.
Additionally this Fibonacci bottom line is meeting the handles' bottom (blue curve, when drawn like this).
So, by playing out the falling wedge, there is a high possibility of reaching a target near the neckline of former mentioned cup and handle.
Some Sunday hopium ;-)
If the BTC will not break the weekly 20MA, there is a falling wedge pattern playing out, as seen in bold white on the attached chart.
A chance of this falling wedge bullish breakout is even higher because the 50% Fibonacci level seems to remark a bottom line here.
Additionally this Fibonacci bottom line is meeting the handles' bottom (blue curve, when drawn like this).
So, by playing out the falling wedge, there is a high possibility of reaching a target near the neckline of former mentioned cup and handle.
Some Sunday hopium ;-)
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.