jamesaphoenix

Potential BTC Cup & Handle Formation

Short
BITFINEX:BTCUSD   Bitcoin / U.S. Dollar
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1
Hey everyone!

BTC looks fairly overbought and has been rallying for several consecutive months. I'm expecting a pullback and a Cup & Handle Formation.

The RSI is also showing us that the price is potentially overbought on the following timeframes:

4 Hour, Daily and Weekly.

Buy Zones have been highlighted.

Good luck and enjoy the bull run!

Comments

just to let you know, C&Hs are typically almost always continuation formations. this would be a reversal formation, while not unseen, is very uncommon. so i'm not saying it would be an impossibility, but i certainly wouldn't rely on it happening.
+1 Reply
jamesaphoenix thesublimeobject
@thesublimeobject, Thanks that's good to know.
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