The consensus of the market is super bullish at the moment. Everyone was excited to see this 50k breakthrough as a big notion for continuation to the upside, so if I had to play devils advocate. Shorting this structure for the long term might work out in your favour. But you know how this market works. This is not financial advice its just an idea that could populate into reality. Anything above the previous high would invalidate this idea. Good luck with your trading :)
Length of Cup is proportional to the breakout of the handle - Inverted Cup and handle formation.
Length of Cup is proportional to the breakout of the handle - Inverted Cup and handle formation.
Comment:
If you still want to short BTC its currently at the top of the channel. So instead of a rejection from the neckline we can potentially see it can reject from the top of the channel and retest that KL at 48k