Possible Cup and Handle Forming on BTCUSD

16 May 2020

Appears that a conventional C & H pattern is forming for BTC. Volume at the decline and base of the cup coupled with the consolidation duration, seem to indicate that a breakout is coming fairly soon and a handle appears to be forming. We may be looking at a price test of 10k in the next couple days/week. A trader seeking to go long and who is a bit risk adverse may consider entry as the price closes above the upper trend line of the handle to confirm the pattern. Good luck guys