$GVT against $BTC closing the cup
Updated
This Rounded Bottom (RB) or Cup & Handle (C&H) is closing it's parabolic ascending curve approx. on the 25,530 satoshi price level before April 11th. All indicators on this 4-hour chart are bullish as the tags read. Depth of the cup from top to bottom yielded +530% profit which should equal for a measured move of the same characteristics.
Brief summary on Ichimoku analysis:
- Kumo cloud is upsloped and beneath the price action which is a bullish trend on a high timeframe.
- Tenkan-sen is still moveing above Kijun-sen (blue over yellow) in an upsloped trend, which is bullish.
- Chikou span (often green, mine is purple) lagging far behind and high, also bullish.
Additional: RSI resetting for another gear up.
MACD showing signs of a cool-down as well.
What's not to like?
Brief summary on Ichimoku analysis:
- Kumo cloud is upsloped and beneath the price action which is a bullish trend on a high timeframe.
- Tenkan-sen is still moveing above Kijun-sen (blue over yellow) in an upsloped trend, which is bullish.
- Chikou span (often green, mine is purple) lagging far behind and high, also bullish.
Additional: RSI resetting for another gear up.
MACD showing signs of a cool-down as well.
What's not to like?
Trade closed: target reached
Still gearing up and following the parabolic curve to close the cup. Patience as this is a long trade.Trade active
Mistakenly labelled last update as "trade closed". This one is very much open.The rounded bottom closed perfectly within the constraints of projected pattern shape. Continuation higher is expected for a measured move that can reach 500% in the long run.
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.