BTC/USD: seeing lots of folk frustrated by the choppiness here but I'm wondering if there could be more in store?
There is the look of a bullish continuation Cup 'n' Handle pattern brewing on the weekly chart. The problem here, though, is that the Handle needs time to develop & spells more potential chop!
The height of the Cup pattern is about $40,000. The Neck line is at $66,000. Technical theory would suggest that any bullish breakout from a Handle might extend by the same order of magnitude as the height of the Cup. That is, by the order of $40,000 approx. One worth keeping in mind and monitoring.
There is the look of a bullish continuation Cup 'n' Handle pattern brewing on the weekly chart. The problem here, though, is that the Handle needs time to develop & spells more potential chop!
The height of the Cup pattern is about $40,000. The Neck line is at $66,000. Technical theory would suggest that any bullish breakout from a Handle might extend by the same order of magnitude as the height of the Cup. That is, by the order of $40,000 approx. One worth keeping in mind and monitoring.