Tea cup pattern..

[spazzdla]

https://bitcoinwisdom.com/markets/bitstamp/btcusd

6H chart.  That is looking nice, good tidings?

[BillyBobZorton]

https://bitcoinwisdom.com/markets/bitstamp/btcusd

6H chart.  That is looking nice, good tidings?

Looks like we are headed towards the next bubble that will bring us to mind blowing prices, the ones that make millionaires, but few will hold, most will give up along the way. Most will die when they try to short it probably triggered by the ETF stuff. Holders always win.

[Yogafan00000]

Nice catch!  I like it...




http://www.investopedia.com/university/charts/charts3.asp

[Tuyul Gupies]

Nice catch!  I like it...




http://www.investopedia.com/university/charts/charts3.asp

if seen from the graph earlier whether bitcoin prices going up or going down in the next few days

[Przemax]

Thats not a cup I would drink from lol. But seriously. In my opinion the cup and handle pattern only applies to the bad sentiment without radical selling folowed by good sentiment without any radical selling pressure. I have not seen any change in the sentiment so I would not predict any price change lately.

[alyssa85]

I had to google what the tea-cup pattern meant, lol.

Here is investopedia's description:

http://www.investopedia.com/university/charts/charts3.asp

The Handle
Another important component to watch is the handle, as it completes the pattern. As mentioned before, the handle is the downward move by the security after the upward move on the right side of the cup. If the handle is downward moving, the general rule is that the handle's downward movement can retrace one-third of the gain made in the right side of the cup. During this downward move, a descending trendline can be drawn, which forms the signal for the breakout. A move by the security above this descending trendline is a signal that the prior upward trend is set to begin.

A more conservative breakout signal would be above the price point of the two peaks in the cup. This is the price where the initial upward trend peaked and the point where the cup's upward move on the right side peaked before entering the handle. A breakout above this point is the strongest signal of a true resumption of the prior trend.

Does this mean that if bitcoin can break above $1068 or there abouts, it is going to surge up in a new bull trend?

[ArdiPrabowo]

what is tea cup pattern
you can share youre trading strategy use tea cup pattern, and what is use indicator in tea cup pattern

[bamboylee]

Nice pattern. does this mean we are going to the moon in the next month? Or pattern still does not apply to bitcoin? If it gets manipulated, then pattern means nothing.

[jhenfelipe]

That was nice. It was my first time to see a tea cup pattern on the BTC price chart. It's unusual for me to check since I don't have plan to sell. I'm not buying too and just go trade my earned BTC. Well, if this means a huge price increase is coming, I'll be happy to see traders happy.

[notme]

Thats not a cup I would drink from lol. But seriously. In my opinion the cup and handle pattern only applies to the bad sentiment without radical selling folowed by good sentiment without any radical selling pressure. I have not seen any change in the sentiment so I would not predict any price change lately.

This.  The cup would fall over and spill your drink.  The long term cup and handle is bullish AF but this short term pattern makes me think we aren't done with the longer term handle yet.

TL;DR: cups should have round bottoms.  This is not a cup.

[bitjoin]

Nice pattern. does this mean we are going to the moon in the next month? Or pattern still does not apply to bitcoin? If it gets manipulated, then pattern means nothing.

Its not 100% or anything its just in past markets there has been noticable patterns of this nature.  It probably mean we have an extra 10-20% chance of moon from that point etc.

[cellard]

The price is back to $1062, that dip was just a natural correction of some people taking profit, the bull pressure is still strong, we are going to be at an all time high in no time, and once we surpass then the sky and beyond is the limit, we can never know how high it will go.

[notme]

The price is back to $1062, that dip was just a natural correction of some people taking profit, the bull pressure is still strong, we are going to be at an all time high in no time, and once we surpass then the sky and beyond is the limit, we can never know how high it will go.

I keep seeing the same thing... One big push up, then a few more pushes with diminishing momentum, until someone comes along and knocks it back down.  Rinse and repeat.  There is no follow through on the bull side.  If we can stay sideways until we get some good news that drives us up we might escape without a significant down move, but without a catalyst to get people excited we're not moving directly up from here.

[boyshx]

Isn't that handle too small to be considered a cup and handle?

[notme]

The price is back to $1062, that dip was just a natural correction of some people taking profit, the bull pressure is still strong, we are going to be at an all time high in no time, and once we surpass then the sky and beyond is the limit, we can never know how high it will go.

I keep seeing the same thing... One big push up, then a few more pushes with diminishing momentum, until someone comes along and knocks it back down.  Rinse and repeat.  There is no follow through on the bull side.  If we can stay sideways until we get some good news that drives us up we might escape without a significant down move, but without a catalyst to get people excited we're not moving directly up from here.

Well, there's some momentum.... let's see if it has legs.  All I had to do was say it wasn't going to happen

[BitHodler]

The price is back to $1062, that dip was just a natural correction of some people taking profit, the bull pressure is still strong, we are going to be at an all time high in no time, and once we surpass then the sky and beyond is the limit, we can never know how high it will go.

I keep seeing the same thing... One big push up, then a few more pushes with diminishing momentum, until someone comes along and knocks it back down.  Rinse and repeat.  There is no follow through on the bull side.  If we can stay sideways until we get some good news that drives us up we might escape without a significant down move, but without a catalyst to get people excited we're not moving directly up from here.

Well, there's some momentum.... let's see if it has legs.  All I had to do was say it wasn't going to happen

Bitfinex just touched $1100 for a few seconds, but I don't know how much value people add to Bitfinex after what happened last year.

By volume it's by far the largest USD based exchange that currently occupies the second spot in the volume list after Japanese exchange BitFlyer.

~ While typing Bitfinex just spiked at $1108.7 which might be an indication of someone just making himself ready for the ETF approval next month.

[fearlesscat10]

The price is back to $1062, that dip was just a natural correction of some people taking profit, the bull pressure is still strong, we are going to be at an all time high in no time, and once we surpass then the sky and beyond is the limit, we can never know how high it will go.

I keep seeing the same thing... One big push up, then a few more pushes with diminishing momentum, until someone comes along and knocks it back down.  Rinse and repeat.  There is no follow through on the bull side.  If we can stay sideways until we get some good news that drives us up we might escape without a significant down move, but without a catalyst to get people excited we're not moving directly up from here.

Well, there's some momentum.... let's see if it has legs.  All I had to do was say it wasn't going to happen

Bitfinex just touched $1100 for a few seconds, but I don't know how much value people add to Bitfinex after what happened last year.

By volume it's by far the largest USD based exchange that currently occupies the second spot in the volume list after Japanese exchange BitFlyer.

~ While typing Bitfinex just spiked at $1108.7 which might be an indication of someone just making himself ready for the ETF approval next month.

The ETF is very exciting for bitcoin. I'm really hoping it gets approved.

[Denker]

The price is back to $1062, that dip was just a natural correction of some people taking profit, the bull pressure is still strong, we are going to be at an all time high in no time, and once we surpass then the sky and beyond is the limit, we can never know how high it will go.

I keep seeing the same thing... One big push up, then a few more pushes with diminishing momentum, until someone comes along and knocks it back down.  Rinse and repeat.  There is no follow through on the bull side.  If we can stay sideways until we get some good news that drives us up we might escape without a significant down move, but without a catalyst to get people excited we're not moving directly up from here.

Well, there's some momentum.... let's see if it has legs.  All I had to do was say it wasn't going to happen

Bitfinex just touched $1100 for a few seconds, but I don't know how much value people add to Bitfinex after what happened last year.

By volume it's by far the largest USD based exchange that currently occupies the second spot in the volume list after Japanese exchange BitFlyer.

~ While typing Bitfinex just spiked at $1108.7 which might be an indication of someone just making himself ready for the ETF approval next month.

The ETF is very exciting for bitcoin. I'm really hoping it gets approved.

Do not get excited too much my friend.Doubt it will get approved.
And furthermore the ETF is mostly interesting for investors (funds) who are not allowed to invest right now due to strict regulations on Wallstreet.
Bitcoin itself doesn't need an ETF. Money can use other ways to get invested into Bitcoin.

[1Referee]

Bitcoin itself doesn't need an ETF. Money can use other ways to get invested into Bitcoin.

Institutional investors have a hard time to take positions into Bitcoin worth multi millions without ETF's at this point. Current exchanges are not an option for them, peer to peer trading isn't that convenient either when it comes to multi millions. That's why this ETF comes handy as this will help attract money that we need to push the price to the next level. On top of that they get what I consider to be a fake level of feeling secure due to the SEC "guarding" the market.