Hello everyone, I hope all of you have had a wonderful Tuesday so far.
Today has been a bit slow on price action but don't get discouraged because we could be just setting up for our upwards move in the near future.
BTC looks like it could be potentially forming a cup and handle on the 4hr chart.
If BTC does play out as a C&H then I am anticipating that we will retrace to about .382 Fibonacci level.
If .382 Fib level holds as support we could likely see our bounce to 8K from there.
This scenario could give us a R:R potential of 9.04
This could be all we need to give us our little boost upwards. Lets see how this plays out!
This is just one potential scenario I see happening.
This is by no means financial advise, I am mearly posting these charts because I myself learn more and more everyday from creating and posting these charts and getting feedback from the community.
thanks everyone :)
-mk6dunc
Today has been a bit slow on price action but don't get discouraged because we could be just setting up for our upwards move in the near future.
BTC looks like it could be potentially forming a cup and handle on the 4hr chart.
If BTC does play out as a C&H then I am anticipating that we will retrace to about .382 Fibonacci level.
If .382 Fib level holds as support we could likely see our bounce to 8K from there.
This scenario could give us a R:R potential of 9.04
This could be all we need to give us our little boost upwards. Lets see how this plays out!
This is just one potential scenario I see happening.
This is by no means financial advise, I am mearly posting these charts because I myself learn more and more everyday from creating and posting these charts and getting feedback from the community.
thanks everyone :)
-mk6dunc