Bitcoin BTCUSD - Potential Cup & Handle Watch on Bitstamp
Updated
Obviously not confirmed yet but something I'm watching for. Seems to be some pretty good support around 17,000, and volume matches the pattern so far.
Too early to enter a position, and the other exchanges aren't showing this pattern so use caution, but BTC does feel like it's trying to breakout to new ATHs so I can see this happening. Bullish in any case in light of my other Inverse Head & Shoulders idea.
As always, wait for a breakout past the neckline with strong volume.
Will update if it starts panning out!
Too early to enter a position, and the other exchanges aren't showing this pattern so use caution, but BTC does feel like it's trying to breakout to new ATHs so I can see this happening. Bullish in any case in light of my other Inverse Head & Shoulders idea.
As always, wait for a breakout past the neckline with strong volume.
Will update if it starts panning out!
Note
Not loving the look of this, but in any case it looks like we just hit the 50% retrace mark, and we've also still got the 15min cloud as support, so it's still possible:Note
feeling a little dumpy, not too confident this is going to play out. For one thing it already dipped below the 50% mark so the pattern looks pretty weak. Not saying it's definitely going to dump either, but I'm going to stand by until I see some other signs.
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