MoonPickle

BTGUSD 2H Giant Cup and Handle

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MoonPickle Uppdaterad   
BITFINEX:BTGUSD   None
Classic cup and handle pattern has formed. Volume breakouts at critical places confirm the pattern

Based on the size, it should send this up to 591.91 (fib 1.272)
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TP target in this TA:

Handel aktiv
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some consolidation in this range is expected before next legs up
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bullish pennant on 4H:

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coiling action:

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Forgot to add, $BTG is done with the ABC correction (EW patterns).

I don't usually apply EW analysis, but is clear here.

Red PSAR = A
Green PSAR = B
Red PSAR = C

This leg should range a bit before moving up.
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The bitcoin hedge is real. Here's the comparison:

Trade stängt manuellt:
not interested in hedging against BTC at the moment, due to strong price action.

will revisit this trade during the multi-month bear season

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