BTC Monthly Cup and Handle Formation May Be Nearing Completion

Last July, I posted thoughts on BTC retracing to the 7000 level where the 200-day moving average was heading. It has pulled back to this area for the last six months with lower highs along the way. November's exhaustive candle suggests this drop is about done. BTC could see a reversal next month (7), which either consolidates or starts to move higher. No need for excessive indicators or fancy squiggles to see this clearly. Price action, volume and chart formations are all you need.