GBTC Bitcoin Trust. Weekly Close. The huge bullish {Cup}
has been set. $17.41 triggered long with a pattern target of $30.
Any pullback from this level would be the {Handle} setting
up.
Evening Ed - The bottom of this cup is a 93% decline of the
prior run up. Bill O'Neil, who documented the cup and cup
with handle patterns, says that the bottom of the cup should be 30%
- 33% in a bull market but can be up to 50% in a bear market.
I think GBTC has some legs, but I don't think this is
a good example of a cup pattern.
yep I agree, would be best to have some sideways move sometime
for some sort of handle. Or a breakout then a low volume abc
pullback to retest that resistance area would also be a low risk
buy
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GBTC Bitcoin Trust. Weekly Close.
Posted by goldnice on 7th of Nov 2020 at 07:19 pm
GBTC Bitcoin Trust. Weekly Close. The huge bullish {Cup} has been set. $17.41 triggered long with a pattern target of $30. Any pullback from this level would be the {Handle} setting up.
Evening Ed - The bottom
Posted by z0ned on 8th of Nov 2020 at 09:14 pm
Evening Ed - The bottom of this cup is a 93% decline of the prior run up. Bill O'Neil, who documented the cup and cup with handle patterns, says that the bottom of the cup should be 30% - 33% in a bull market but can be up to 50% in a bear market. I think GBTC has some legs, but I don't think this is a good example of a cup pattern.
excellent
Posted by law6 on 8th of Nov 2020 at 08:26 pm
excellent
yep I agree, would be
Posted by matt on 8th of Nov 2020 at 01:57 pm
yep I agree, would be best to have some sideways move sometime for some sort of handle. Or a breakout then a low volume abc pullback to retest that resistance area would also be a low risk buy