This Rounded Bottom (RB) or Cup & Handle (C&H) is closing it's parabolic ascending curve approx. on the 25,530 satoshi price level before April 11th. All indicators on this 4-hour chart are bullish as the tags read. Depth of the cup from top to bottom yielded +530% profit which should equal for a measured move of the same characteristics.
Brief summary on Ichimoku analysis:
- Kumo cloud is upsloped and beneath the price action which is a bullish trend on a high timeframe.
- Tenkan-sen is still moveing above Kijun-sen (blue over yellow) in an upsloped trend, which is bullish.
- Chikou span (often green, mine is purple) lagging far behind and high, also bullish.
Additional: RSI resetting for another gear up.
MACD showing signs of a cool-down as well.
What's not to like?
Brief summary on Ichimoku analysis:
- Kumo cloud is upsloped and beneath the price action which is a bullish trend on a high timeframe.
- Tenkan-sen is still moveing above Kijun-sen (blue over yellow) in an upsloped trend, which is bullish.
- Chikou span (often green, mine is purple) lagging far behind and high, also bullish.
Additional: RSI resetting for another gear up.
MACD showing signs of a cool-down as well.
What's not to like?
Trade closed: target reached:
Still gearing up and following the parabolic curve to close the cup. Patience as this is a long trade.
Trade active:
Mistakenly labelled last update as "trade closed". This one is very much open.
The rounded bottom closed perfectly within the constraints of projected pattern shape. Continuation higher is expected for a measured move that can reach 500% in the long run.
The rounded bottom closed perfectly within the constraints of projected pattern shape. Continuation higher is expected for a measured move that can reach 500% in the long run.