Possible cup and handle formed on BTC, let's see how it plays out. Break under the handle would invalidate this.
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Break above the handle (plane on chart) would validate itNote
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Updated the cup and handle accrodingly to the last price action. This pattern is still in play until we see a drop lower than middle of the cup or we crab to the side out of this pattern Note
be aware that this pattern still allows the downfall to the middle of the cup and still be valid if it holds the low Note
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My idea here is not a buy or sell signal. Its jut a pattern that i am following at the moment and it can play out in both directions Note
Pattern stil in play. Note
Still floating in the handle. I would not open a trade until we can see a clear break under or over Note
We broke under so it's invalidating my idea about cup&handle. Reversal from this zone is still possible and I would be cautious with short positions in the middle of this price action. Wait for pullback to 15800 to enter a possible new long. I would prefer to wait out this PA until it's more clear which direction we are going. Note
A bullish scneario I see at the moment, a possible "Wyckoff accumulation" phase going on at the moment. Bearish case is, we head down to our new low 14k with unforseen macro economic reasons.
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Dropping this here for future reference. A possible accumulation phase Note
It is still possible that we are fulfilling the cup and handle patter, but I would be cautios as tomorrow we have the "Fed Chair Powell Speaks" and other imporatnt meetings that could alter the price to downside or upside. Keep it safe, Note
Dangerous place to open a position, I would wait for more confirmations if we drop or rise from this level Note
We have a lovely 4h candle close, could be a trend change to the upside, atleast to the upper triangle trendline. Wait for a break and retest over it for a nice long position to atleast 17k, or bearish case is we get rejected there again and continue the down move. Note
Getting rejected once again from the top. Expect possible crab or more downside until tomorrows events, fed speach and some other important meetings.
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Congrats to those who followed, profit taken. Cheers!Note
Would like to see a healthy retest of the trendline we brouk out off for a possible more upside in the next days. If we break under it again, then this is not a sustainable move that i would add longs to.Note
Just received a notification from a moderator that my ideas are not meaningfull and lack details. "►Your publication lacks a meaningful description or analysis.◄
House Rule #1: Make ideas understandable"
Im not sure if i have to laugh here or what, seems kind rigged social platform, i never did this to gain followers or something else out of it but I did this to better myself as day trader and to keep myself accountable to my ideas, and yes that takes constant updating of my idea here but as I they informed me thats not allowed or i should make my ideas private. I am quitting posting here and deleting my account and just doing it solo as i have done before. Cheers and good luck to all, thanks for taking a look and i hope we can all learn something from this. ;)
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.