Cup and Handle Forming on BTC Daily

١٧ يناير ٢٠٢٠

A clear Saucer pattern has formed on the Daily BTC time frame, although it looks like price has been rejected with a period of retracement coming that could lead to a Cup and Handle. A Bearish Divergence has formed on the OBV as well which is yet another sign of a possible retracement to suggest this is a Cup and Handle forming. After the pullback, OBV should begin to rise as it approaches the resistance for the second time as this signals a strong break out.

No trade set up today, just an analysis of price action.