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Long

BTCGBP Daily Cup & Handle - Bull Signal

COINBASE:BTCGBP   Bitcoin / British Pound
Just noticed that we have created a cup & handle pattern on the Daily chart for BTCGBP . Looking to go long again under £7500 - Bears please help me!
Comment: Turning more into a Spoon/Laddle than a tea cup! I haven't been able to add to my longs so this idea is invalidated. Looks like I will need to be more patient.

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Just coming out my cave 1 moment. Peter Schiff follower Perma Bear here. Here are a couple reasons why Bitcoin may be Bullish vs the GBP

1. The deadlines for student loans finish next week and the Government has put a cap on the new amount of new students. This is going to put pressure on the younger generations not to spend their free cash.
2. There is increasing pressure on the treasurey to print more money ... I think it was some where between 330 billion in the best case scenario and 750 billion in the worst case scenario. This means welfare cuts, public sector cuts etc. Some tabloids dressed it up as a depression worse than 1705.
3. There is then the reports that Cornavirus is spreading in schools and a potential resurgence of a twin peak.

But dont take my words for much, im just a working class doomsday prepper. i think bitcoin is going to stabilize and go back down to 7000 until the BOE announce that is has to do more stimulus and then it will rise. i think going long would be very risky. just make sure you have all your alerts set and you have loads of coffee if your gonna go ahead with it.
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