Inverted cup and handle formation clear on BTC-e/Huobi

16 thg 6, 2014

A well formed inverted cup and handle has been created in BTCUSD. This formation is typically a continuation pattern and is less reliable during a bull market. Should the price breach the line at 615 (60+% retracement from cup lip) the pattern should be considered broken. Should the pattern succeed, we should see a drop to the lip of the cup +50% of the retracement ($90 from peak of handle currently)
Profit Capability:
Current gain on success: 775/BTC - 12.8%
Current loss on failure: 225/BTC - 4.3%