here's another pic (apparently masterluc found the pattern before me):
The handle can retrace up to 50% of the cup. So it can go down to $240.
I've been watching many cup & handles in bitcoin and usually it doesn't retract that far, so it's possible we'll turn up already at this point.
However, this one is exceptionally big, so it's hard to draw conclusions from past cup & handles which were usually smaller.
The handle can retrace up to 50% of the cup. So it can go down to $240.
I've been watching many cup & handles in bitcoin and usually it doesn't retract that far, so it's possible we'll turn up already at this point.
However, this one is exceptionally big, so it's hard to draw conclusions from past cup & handles which were usually smaller.
The top of the cup is $310 and the bottom $210, so wouldn't 50% of the cup be $260 and not $240? If we reach $240 things will look very bearish again imo, anything below $255 will turn me back into a bear for the next couple of months at least.