Bitcoin Cup Espresso or Bear-muda Triangle?
Been travelling the world the past months and took break from crypto, while accumulating my favourite coins, IOTA, VTC, NEO, OMG, XRP. Had good profits on SYS and ZRX :)
Of course, Bitcoin will still be the compass of the crypto market as to where it will head to.
In my charting, I can see a cup and handle formation that may be forming on the weekly chart. If we sustain the red-dashed bold trend-line, we could be retesting the 10K level in a few weeks which will be slightly bullish, as long as we establish the current red-dashed bold trend-line for another test to form the handle. If we establish this trend and make a higher low, then we could be forming at last the new bull trend.
Note that if we do break down this trend line, a possibility of bottoming back to 5700, following the hidden descending triangle pattern and maybe a stronger break down to 4800-3000s.
Of course, Bitcoin will still be the compass of the crypto market as to where it will head to.
In my charting, I can see a cup and handle formation that may be forming on the weekly chart. If we sustain the red-dashed bold trend-line, we could be retesting the 10K level in a few weeks which will be slightly bullish, as long as we establish the current red-dashed bold trend-line for another test to form the handle. If we establish this trend and make a higher low, then we could be forming at last the new bull trend.
Note that if we do break down this trend line, a possibility of bottoming back to 5700, following the hidden descending triangle pattern and maybe a stronger break down to 4800-3000s.
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