BTC is following the C&H pattern smoothly. It made the first bounce of the 0.236 fib level, touching the upper trendline of the handle. As the RSI is trending downwards, it seems more likely that BTC will drop toward the lower trendline of the handle and continue the pattern. This might also print a higher low on the weekly.
CHOP index is also building up, currently at 65. I expect a strong bounce of the lower trendline of the handle next time, and maybe even a breakout to continue the BTC uptrend.
Currently trading the channel of the handle. Short now, putting in long orders at the lower trendline.
CHOP index is also building up, currently at 65. I expect a strong bounce of the lower trendline of the handle next time, and maybe even a breakout to continue the BTC uptrend.
Currently trading the channel of the handle. Short now, putting in long orders at the lower trendline.
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