Inverse cup and handle in BTC?
Hi guys!
Congrats to the bulls for the amazing run to 9k! Now comes the real test. The trendline from december is broken but we're not out of the woods just yet. We need to consolidate at these levels to see a break of 9-9.2k.
Mind you that there is also a lot of resistance in this area as many have pointed out. SHOULD we break down from here, we would find ourselves back in the bear trend that has been in place since december.
Levels to look out for are 9k on the upside and 8.5k on the downside. We have to retain 8.5k as a bare minimum in my opinion to keep momentum going.
I also noticed a possible inverse C'n'H forming on BTC and ETH - if it breaks back down to previous lows, the formation would be complete. Would be great to hear what people think about this projection.
Congrats to the bulls for the amazing run to 9k! Now comes the real test. The trendline from december is broken but we're not out of the woods just yet. We need to consolidate at these levels to see a break of 9-9.2k.
Mind you that there is also a lot of resistance in this area as many have pointed out. SHOULD we break down from here, we would find ourselves back in the bear trend that has been in place since december.
Levels to look out for are 9k on the upside and 8.5k on the downside. We have to retain 8.5k as a bare minimum in my opinion to keep momentum going.
I also noticed a possible inverse C'n'H forming on BTC and ETH - if it breaks back down to previous lows, the formation would be complete. Would be great to hear what people think about this projection.
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- Marcus Aurelius
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