BTC Cup and Handle?

BTC BRoke out of the trend line last night, at first it looked like a failed breakout as the volume was fairly low. I went to bed to wake up this morning to see the Volume increased in a huge way and we zoomed to $9400. Taking a look at the chart now, we see the 200ma is pushing, we are above the ema in a huge way which is a bullish sign. Above the green ichimoku Cloud , which is in climbing. an argument can be made for a cup and handle setup and we are currently pushing against the latest resistance line. If we break through I would say a move to around 10190 is on the cards, as it is the 1.618 fib line. Watch for Volume increase and a breakout, should see a pull back after 1.618 for an entry point if you missed the boat.

Good Luck

Note

Broken Resistance, currently around 9500, heading to the Psychological barrier at 10000

Trade active

We have a Neutral Star pattern on the 60 min chart currently, watch it does not turn into a Evening Doji or a Tweezer Top formation as it may indicate a pull back, wait for next candle close would be the most logical action. $9725 is getting close to that $10 000 Dollar psychological barrier also, there may be an opportunity to short. Good Hunting

Note

Looking at wrong chart, currently not an star candle, my apologies.

TroyByrne

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TroyByrne

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