Just updating my Cup & Handle idea with some extra things I've noticed.
Note
Looks like it's bouncing off the bottom of that channel, with a bullish divergence - likely will start heading towards the top of the channelNote
Everything about this idea has been invalidated from the crash last night lol (I think a lot of it had to do with Poloniex)It now looks like an Ascending Channel:
In the short term, it's trying to reverse, potential inverse H&S here:
the target would basically bring it back up to the trendline that was formed from the previous highs of the past week or so.
But there is a lot of resistance and if it doesn't break through I think we could see some more downside over the next few days
Note
I guess it's possible that the crash was an overreaction to poloniex issues, so I guess this idea may still play out even though the pattern has been broken - however I'm not betting on it until we see some solid signs. A big BTC retracement (of at least a couple hundred dollars) may be a trigger so watch for that. Otherwise, this is my latest idea:
Related publications
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.
Related publications
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.