BTC Cup & Handle with Inverse H&S

١٤ مايو ٢٠٢٣

We saw a breakout candle with volume of the H&S confirming the pattern. Wide cup forming. According to O'Neil, handles should last around 4 weeks and drop up to 15%. We exceed the 15% momentarily but hey, this is Bitcoin. Handle pattern is invalidated if it breaks the pattern to the downside or essentially sees a new low. A breakout of the channel and then a breakout of the previous high around 31,000 would be extremely bullish with a price target around $44,000. Please rate this TA. Thanks.