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Title: a REAL cup and handle forming? Post by: mgio on November 05, 2013, 09:40:31 PM Now I think that most TA is bs but at leas there is some theory behind the cup and handle pattern.
It seems to be that we have a cup formed from the peak in April and the peak we hit today. Not surprisingly as we tested the previous high today we experienced a drop. Now if that drop continues slowly over the next few weeks then that would be a very bullish sign for Bitcoin and we could expect to surpass the ATH and continue up within a month or so. The alternative is the mini-crash we experienced today does not continue and bitcoin continues to rise and so the handle never forms. Either way it's bullish for bitcoin. Perhaps this is why TA is bs. Title: Re: a REAL cup and handle forming? Post by: rampantparanoia on November 05, 2013, 10:03:34 PM that would be the mother of all cups AND handles.
Title: Re: a REAL cup and handle forming? Post by: Newscastix on November 05, 2013, 10:05:30 PM that would be the mother of all cups AND handles. once you see it... :o Title: Re: a REAL cup and handle forming? Post by: mgio on November 05, 2013, 10:43:43 PM that would be the mother of all cups AND handles. If you read about cup and handles, the cup must be at leas 7 WEEKS wide and can be as wide as a year or more. This cup is roughly 6 1/2 months wide so it is a pretty normal-sized cup actually. All these single-day sized cups that people like to point out are total BS. Title: Re: a REAL cup and handle forming? Post by: rampantparanoia on November 05, 2013, 11:12:36 PM that would be the mother of all cups AND handles. If you read about cup and handles, the cup must be at leas 7 WEEKS wide and can be as wide as a year or more. This cup is roughly 6 1/2 months wide so it is a pretty normal-sized cup actually. All these single-day sized cups that people like to point out are total BS. at least how long does the handle have to be? Title: Re: a REAL cup and handle forming? Post by: SheHadMANHands on November 05, 2013, 11:43:53 PM A large amount of capitulation (and potential handle) already can be seen from a few weeks ago ("crash" from $230 to $180 or whatever, and the following week).
Title: Re: a REAL cup and handle forming? Post by: CryptStorm on November 06, 2013, 12:51:27 AM A large amount of capitulation (and potential handle) already can be seen from a few weeks ago ("crash" from $230 to $180 or whatever, and the following week). Yeah, it's really difficult to tell what we might expect to see (obviously), but, it's reasonable to imagine that the launch from the 140-declining-to-130 handle in September could start a run that goes for 2,3,4 or more months with no major corrections. If that happens, we will look back and see the cup-and-handle for what it was-- a sign of yet another level (speculating maybe 300-500 range). |