BTC Bull continuation?
2 potential patterns are setting up to return BTC to All-time highs and beyond.
Within the triangle we are currently at the neckline of a cup and handle (see ABC&D) that, with a weekly close above, has a target back around ATH.
A breakdown from here will see us working on a potential Elliot triangle wave E. The theory suggests this should break below the triangle which would definitely be a cause of fear for many investors and would certainly be a scary trade to take. However, looking at the overall chart movement. With the absence of a clear ABC correction, It is quite possible that this bear market has simply been a large bull flag on the monthly chart with an upside target just past ath's.
Time will tell.
Within the triangle we are currently at the neckline of a cup and handle (see ABC&D) that, with a weekly close above, has a target back around ATH.
A breakdown from here will see us working on a potential Elliot triangle wave E. The theory suggests this should break below the triangle which would definitely be a cause of fear for many investors and would certainly be a scary trade to take. However, looking at the overall chart movement. With the absence of a clear ABC correction, It is quite possible that this bear market has simply been a large bull flag on the monthly chart with an upside target just past ath's.
Time will tell.
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