What is an ‘inverted cup and handle’?
An ‘inverted cup and handle’ is a chart pattern that indicates bearish continuation, triggering a sell signal. Think of it as an upside-down cup and handle.
If you look at the regular cup and handle pattern, there is a distinct ‘u’ shape and downward handle, which is followed by a bullish continuation. This means the inverted...
As u can see on the chart ... BTC has given multiple pattern breakout
1) Rounding bottom
2) Inverse Head and shoulder
3) Trendline breakout (with good volume)
Currently it has given the breakout and Retesting it ..
Levels are mentioned in the Chart
It can be bought at CMP with SL mentioned in the chart with immediate Target of T1 for Swing Trading
Cmp - 32750
Stop - 30500 on DCB
T1 - 41300
T2 - Open, Review at 41300
Expected Holding Period - 30 trading days or earlier for T1
Ideas being shared only for educational purpose
Please do your own research or consult your financial advisor before investing
BTC Got Rejected From TrendLine Resistance At 38500$ (approx.)
Also Breaking Down The Support Level At 36500$ (approx.)
Flipping It Back To Resistance,
Approaching Towards Next Support i.e., 34500$....
If 34500$ Support Didn't Hold Then ,
We Likely To See a Free Fall Towards Liquidity Raid📉With A Possible Long Wi
bitcoin chart is forming bilateral symmetrical triangle
Symmetrical triangle can either be bullish or bearish, Symmetrical triangles form when the price converges with a series of lower peaks and higher troughs
but if we look BTC daily and 4hr chart, then overall trend is bearish
So there is more probability that bilateral symmetrical triangle can break down....
In this 4 hrs. Technical Chart I'm trying to Show Support And Resistance Levels.
4hrs Chart Shows BTCUSD Take Support @ $30066 After That Near $53800++ Strong Resistance.
If That Resisteansce Work Then BTCUSD Will Crash Near $17000 If This Support Work Then As Per the Chart Shows we Need To Breakout $46000++ After That Upside Target Open.
Let's Hope For The Best!
BitCoin – Next Tulipmania?
Selling Pressure is seen in BitCoin after Elon musk announcement.
Chart is around its major support level.
If 39520 breaks on weekly basis then Prices will easily reach 26650.
Extended target can be 19100.
If the above condition fails then good reversal is also possible from current level. So keep your stop losses as per your risk...
BTCUSD looks strong on the upside.
The chart first formed a strong support with TDI diversions. Followed by the first leg of up move. We are watching some resistance because of the trend line firstly and secondly this area has acted to be a resistance zone earlier too, hence 55000 is an important zone.
Now two trades are possible-
Case 1- Breakout- If it...