BITCOIN: Bullish Scenario - Cup & Handle

about 4 years ago

BTC/USD Daily Chart

This bullish scenario includes Bitcoin retesting the 10500$ resistance, breaking it, than going towards the 11800$ region and perhaps returning to 10500$, which will act as support this time.

Descending channel on the RSI too and decreasing bearish MACD - Histogram.

Keep in mind that we could first revisit the 55 day EMA (blue), which aligns with the lower line of the handle - currently at 9200$.
The white drawing is just for orientation.

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steem line 2.png

Thanks for reading and safe trading!✌

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2 comments

about 4 years ago

Update 1:

currently at the bottom of the channel
possible bullish "M" on the MACD-Histogram
if we break the channel, 200 day MA (grey) is the next stop (8800$)

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about 4 years ago

Update 2:

unfortunately bulls lost it
currently at the 200 day MA, which aligns with the 21 weekly EMA
if this level doesn't hold us either, next stop is 8200$ - the 55 weekly EMA

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