Cup and handle with Green tea and Cookies - BTC target 10000

Cup and handle, Green tea and Cookies - BTC target 10000

Комментарий:

The actual target is 102xx , but taking some profits at 10000 is something to consider as the pull back may be significant. Im guessing close to a 1k drop perhaps.

Note : this is not trading advice , Gauge the market temperament as we approach 10k.

Комментарий:

the handle formation should start at around 89xx and we observer a sharp descent downwards,

Комментарий:

This should be around a 500 drop or so

Комментарий:

may not be a 500 drop as theres a support at the 8600 area

Комментарий:

The 4 hour candle also hits a 9 in 13 minutes and should count down

Комментарий:

looks to be moving down now as expected

Комментарий:

one thing that bothers me is that both the 1 hour and the 4 hour candles are on countdown 9 candles and BTC is to close to the top of the Bollinger band on the 1 hour candle.
- BTC should stop around 8500 , Of concern will be if it goes down past 8500 .

Комментарий:

we have the sharp descent which is a good sign

Комментарий:

BTC has fallen past 8500 and could stop at 8400 , 7900 or 7500 .
7900 has been successfully in the past to stop drops.
if 7900 fails to hold BTC can drop to 6k.

Комментарий:

The 1 hour candle will finish its 9 candle countdown in 30 minutes and will flip positive. This action could send BTC back upwards in the next hour,

Комментарий:

as green as the dollar bill

Комментарий:

BTC needs to stay above 8500 to remain bullish

Комментарий:

the 30 min candle also needs to make the MACD crossover

Комментарий:

the big problem i see is the 4 hour candle is counting down , its on candle # 2 and it can count down to 9 (36 huours) or it can flip to green when it hits the green line at the bottom , We will know in 35 minutes

www.tradingview.com/chart/68PrYFRb/

Комментарий:

Комментарий:

good catch by @RodrigoGarreton
Thats thee black crows

BEARISH THREE BLACK CROWS
Definition
This pattern indicates a strong reversal in the market. It is characterized by three normal or long candlesticks decrementing downwards. The opening of each day is slightly higher than previous close and prices progressively close at lower levels. This staircase like behavior signals the reversal of the trend.
Recognition Criteria
1. The market is characterized by a prevailing uptrend.
2. Three consecutive normal or long black candlesticks are observed.
3. Each candlestick opens within the body of the previous day.
4. Candlesticks progressively close at new lows, below the preceding day.
Pattern Requirements and Flexibility
The Three Black Crows consists of three consecutive normal or long black candlesticks. The last two candlesticks must open within the range of the preceding candlestick and close lower.

www.candlestick...om/Pattern.aspx?lang=en&am...

Комментарий:

: wait for confirmation . if its a reversal BTC will dip when the 4 hour candle closes in 30 mins. Also it will drop below 8500 .

Комментарий:

To confirm false breakouts and bull traps we can wait for BTC to cross the next resistance at 8622

Комментарий:

4 hour candle is closing now

Комментарий:

30 minute MACD is now positive

Комментарий:

After 8620 its upwards confirmation for BTC - looking good so far

Комментарий:

Breakout confirmed once over well LINE A around 8630.

Комментарий:

LINE A is the horizontal line

Комментарий:

not looking too good at 8630 ,,,,mmh

Комментарий:

Dropping out past the green line at the bottom, around 83xx will signal a reversal to the downside .

Комментарий:

A bit more distance away from 8630 will welcomed and theres still the challenging 9xxx resistance areas ahead , but BTC the bull moves forwards with caution.

Комментарий:

Can go either way - 8264 or 8947 - but theres 3 white soldiers - signaling a possible move to the upside - albeit a small move.

Комментарий:

Closing this out as BTC does not appear bullish currently , will reopen if situation changes. if the downtrend continues BTC can drop to 83xx , 7900 or retrace back to 6k

Сделка закрыта вручную

Комментарий:

Reopening as this is too easy and BTC does not play easy - Im expecting BTC to continue to make one more push to the 9K area and there we should see the retrace .

Комментарий:

The daily MACD has also crossed over into positive territory and still appears in an uptrend . This does not correspond with the idea that BTC will be dropping soon , so im expecting BTC continue to move upwards .

Комментарий:

Many mixed signals from BTC trying to catch us off-guard , Almost had me there for a minute

Комментарий:

head and shoulders moving to 8939

Комментарий:

Bigger cup and handle in symmetrical triangle going to 10160

Комментарий:

Theres one last cup and handle which makes "a cup within a cup within a cup" . I enjoy saying that.

The last cup ends at 12k but it spaced out from the others so looks like it may take a while to get there - a few days is my guess.

Комментарий:

looking at the bIgger CUP BTC will have to dip close to the 6k/7k area to wrap up the handle about 6300 will be my guess

Комментарий:

so there will have to be a dip to 6k in order to enjoy twice the profit .

Комментарий:

i still think we will drip to 2k at some point in this correction . Dont know when ,,but we will hit it at some point