Cups and Handles in BTC, BNB, USDT, USD the market swings
Updated
I see cup and handle formations in BTCUSDT and BNBUSDT on Binance. The market seems to be swinging in between fiat and crypto, most pairs are too closely correlated with BTC to swing the bounces, but BNB is still great for quick flips.
Here's the BNB chart:
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This has been for educational purposes only and is not intended as financial advice.
Here's the BNB chart:
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This has been for educational purposes only and is not intended as financial advice.
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Look at the direction of this chart on the live candle. Notice it can follow either the dotted downtrend or the solid uptrend from here, and as long as the candles continue to close above the solid line, we're in an uptrend on this fragment of the journey. Note
So far so good, still holding the trendline. Ichimoku shows us the turbulence ahead. I'm expecting a pullback from the top of the right end of the cup and handle before we get a clear decision. When we reach that level, it'd be wise to shore up your stops pretty tight.
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BNBUSDT Binance| Personally I'd place a stop at the first red line if the second red line is hit, because that's the area where a significant inside bar broke down prior to the dip of the handle.Note
This isn't a good development for the bull case, looks like there will be more flagging action before this pattern is at a decision point. We will need to find support. Note
Check this out: 7878.58 is your stop loss target if you're long.
-Educational purposes only-
Note
Correctional Elliot wave may be enough to save the bulls for this setup Note
Old supports are broken, we're flagging into a symmetrical triangle pattern. The red support line must be maintained in order to stay neutral to bullish and if broken, we may retest to lower lows. A break of the cup and handle will signify more proof that the higher low is established. Note
19 minutes and counting on 1h timeframe, cutting it close. If this candle closes below the triangle, I'll be leaning mostly bearish and a lower low is much more likely. 
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