Bitcoin’s Cup & Handle Measurement after the channel breakout…
Ha ha, I literally and accidentally just typed “Bitcon” in the title of this post. I guess it was a Freudian slip (of my fingers).
Anyway, sometimes I just don’t feel like dredging up topics for public posting. I prefer to let ’em come to me. This one came to me in the form of an NFTRH subscriber’s question (upside targeting for Bitcoin). But first…
Back on October 28th, I posted this at X:
Here is the hysterical chart today (Nov. 17).
Going strictly by the measurement of the weekly chart’s Cup & Handle, the target is 115,520. FYI. It looks a lot like Gold’s Cup & Handle (targeting 3000+), except over a more compact time frame and with a much more orderly Handle.
As long as the market’s speculative juices keep flowing, I’d expect Bitcoin to keep going. Maybe even to the target. But absolutely nothing has changed from my perspective. Bitcoin is a play, a speculation and that will be addressed when the “everything bubble” is finally addressed. In my opinion.
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Gary Tanashian