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Cup And Handle

BTC To Touch $120k | What's Next? | #analysewithahadBTC on the weekly chart is forming cup & handle pattern, indicating a bullish sentiment on a longer timeframe. Near about 15th November'21, BTC started to plummet from the high of $70k to the low of $15,476 on 21th November'22 - Aproximately, BTC took the whole year to fall and pivoted from there to make another high of $73,777 on 11th March'24. BTC has ballooned by 352.45% pre-correction. Now, the correction is looking healthy. BTC, to rally again, need to break the resistance level at $72,774. Once, it is broken with volumes, we might witness a healthy rally till $120K. But, nothing can be said with respect to the time it will take. Just wait and watch.
by iAhadKhan
TeslaWe can see three different patterns in 3 time frames namely trend consolidation, falling wedge and rounding top. 200 is rounding bottom pattern completion zone and can act as a strong support. Buy above 209 with the stop loss of 207.5 for the targets 211, 213 and 215. Sell below 205 with the stop loss of 207.5 for the targets 203.5, 200.5 and 198. Check the live market updates. Hit the like button to Rock !! Show some energy !! Note : This is my pre market analysis and my trading journal. Not a suggestion to buy or sell. You are responsible for whatever you do.
NASDAQ:TSLA
by vanathi
Market Mayhem: Unpacking the Crypto CorrectionIt's me again, and the crypto market is in a state of panic. We've exited the consolidation phase, indicating bearishness and a distribution phase. However, as I mentioned in my previous post, the market remains in an uptrend, and the Halving and ETF still offer significant bullishness. According to Elliot wave principles, a major retracement is logical given the strong uptrend since November 2022. In such trends, prices often retrace to: - 23.6% for a minor correction - 38.2% for a moderate correction - 50% for a significant correction Bitcoin recently retraced to 38.2% and filled a high demand zone. Does this mean we'll see a recovery? I can't say for sure, but I've identified two potential zones where the price may visit. We've already seen the $52,000 zone, and there's a minimal chance of reaching $42,000. Two reasons support this minimal chance: 1. Bitcoin would need to drop by another 15% in the next week or two, which is unlikely and would put us below the November channel. 2. The formation of a Cup and Handle pattern, which typically tests old highs and incurs selling pressure from investors who previously bought at those levels. This selling pressure can lead to consolidation and a downtrend for days, weeks, or even months before advancing higher. The handle often finds support at the 50% retracement in a rounded shape. Considering the factors mentioned earlier, it's reasonable to conclude that we may be experiencing either: 1. The Bottom handle of the Cup and Handle pattern, which could precede a potential breakout. 2. The onset of a Recovery phase, marking a turning point in the market trend. In either case, this presents a crucial moment for the crypto market, and it's essential to monitor developments closely to determine the next move. Feel free to ask questions, and as always, don't forget to like and engage with the content! INDEX:BTCUSD BINANCE:BTCUSDT
INDEX:BTCUSD
by Merc_Josh
Cup & Handle Forming!! - GUHere I have GBP/USD on the 1 Hr chart! Price dipped down into the Support Zone that was recently used in the beginning of July making its Low @ 1.2707! Afterwards, price came right back up to make an Equal High @ 1.28404 forming quite a popular Reversal Pattern, the Cup & Handle!! Now this PA formed the "Bowl" and after the Equal High, using the Fib Retracement Tool, we can see Price made a 61.8% Retracement beginning the formation of the "Handle"! This Higher Low tells us that if this Fib Retracement holds, we could be seeing the end of this Downtrend and the beginning of an Uptrend to the Potential Range Target of 1.29992 - 1.30502! - Bullish Divergence @ Support - Violation of Structure from LL to HL - RSI ABOVE 50
Long
by Novi_Fibonacci
4
BTC1! Weekly Futures - Patterns & TimeRange defined reversal and weekly expansion so far on bar #20 of the handle / bull flag consolidation. Long above short below or use lower time frame to reduce risk range. “May” see break out or down on bar #21(fib time). TV targets appear to use a 1 to 1 moves so I have included the cup and handle 61% bullish breakout measurement. The two cup rim swing highs are divergent which can at times show bias. Sentiment 1.37/1 Buyers to sellers. Best wishes and Happy Trading!
CME:BTC1!
by The_Obvious_Whale
4
BTC cup and handle (Weekly chart)The Cup and Handle is a popular technical analysis chart pattern that has been used by traders for many years. It consists of two distinct parts: the Cup, which resembles a U-shape in price action, and the Handle, which is generally a horizontal line drifting downward. This pattern can be an indication of an increase in price once it’s complete and provides opportunities for profitable trades. In order to successfully trade on this chart pattern, it’s important to understand how to identify it correctly, set entry points, manage risk with stop losses, and determine exit points with target prices. With these guidelines in mind, trading on the Cup and Handle Pattern can have many benefits for experienced traders looking to capitalize on potential profits.
COINBASE:BTCUSDLong
by Katimbo
AVGOPrice is consolidating in the form of symmetrical triangle for the past 2 days after a good trend line break out. 150 will be the trend deciding zone. Higher time frame shows rounding bottom is forming. Lower time frame pattern is neutral. Buy above 155.5 with the stop loss of 154 for the targets 157, 159 and 161. Sell below 152.5 with the stop loss of 154 for the targets 151, 149 and 147. Hit the like button to Rock !! Show some energy !! Note : This is my pre market analysis and my trading journal. Not a suggestion to buy or sell. You are responsible for whatever you do.
NASDAQ:AVGO
by vanathi
2