I posted a chart in Sept 2023 about a potential scenario of bitcoin hitting $56k, this is when it was trading at $25k. Now on the weekly I've spotted a similar potential of a cup and handle.
There is no handle as yet. The ETF money that's flowing into bitcoin right now could just drive this up without the handle, or we could drop back some to form a handle, as always, a max drop of 15% to create a handle could be in play, any more than that (excluding wicks) should theoretically invalidate.
Target would be $267k, price of a potential handle drop is on the chart.
There is no handle as yet. The ETF money that's flowing into bitcoin right now could just drive this up without the handle, or we could drop back some to form a handle, as always, a max drop of 15% to create a handle could be in play, any more than that (excluding wicks) should theoretically invalidate.
Target would be $267k, price of a potential handle drop is on the chart.