BTC 1H - Cup & Handle Pattern: LONG!!

4 Jul 2021

Hi everyone. This is the BTC 1H Cup And Handle Pattern formation.

We can see a cup and handle pattern formed in the 1H chart. We can also see this under the 15min and 30min as well (even more defined). If you google search Cup and Handle Chart Pattern for stocks, you will see that this cup and handle pattern will eventually lead to a LONG position as the handle end will eventually spike upward.

Since we are seeing higher lows the past two declines, I would expect for a higher high if this cup and handle is to hold true. We may see a big pump to the upside to around 37-37.5K.

Historically, we would measure from the bottom of the cup to the brim how big the increase in price then apply this same increase from the brim of the cup upward and we should get our TP, which in this case looks to be a ~5.5% gain.

Long order: 34.5 - 34.8K.
TP 1: 36 - 36.5K
TP 2: 37 - 37.5K.

Not Financial Advice.

Good Luck.