BTCUSD - 1M - Cup and Handle??
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NOT A FINANCIAL ADVISOR!!!!
Currently looking at a possible Cup && Handle formation.
Depending whether you consider Wicks or simply candle bodies,
there can be a target around the 21-29k.
Do note that there is a Fib extension around the 24k!
Be aware ... this is a Month chart!
Meaning there can be weekly and even Monthly red candles until targets are reached.
It can be fast and it can be slow. :)
Some may say that a deep cup can produce a false signal...I wouldn't know for sure.
Currently looking at a possible Cup && Handle formation.
Depending whether you consider Wicks or simply candle bodies,
there can be a target around the 21-29k.
Do note that there is a Fib extension around the 24k!
Be aware ... this is a Month chart!
Meaning there can be weekly and even Monthly red candles until targets are reached.
It can be fast and it can be slow. :)
Some may say that a deep cup can produce a false signal...I wouldn't know for sure.
Nota
By having a deep cup and producing a false signal...I would expect a lower price target to be hit. Price targets are just for information of the pattern target. Still as described there is some Fib extensions that will be more reliable to calculate those targets.
Trade chiuso: obiettivo raggiunto
Initial target is about to be hit!Not closing it but for the sake of reporting.
Good luck!
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