#Bitcoin has formed a perfect "Cup with Handle" pattern on | Trader Tardigrade on Binance Square

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#Bitcoin  has formed a perfect "Cup with Handle" pattern on weekly chart. The cup formation started in mid 2022 to mid 2023, lasting for a year long. We are at the handle now. If $BTC breaks out, the target measured by the cup depth will be at the same height of 2021 ATH!!!

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Combination of multiple indicators successfully caught the #Bitcoin's bottoms. Stochastic indicator %K falling below 20 signals the possibility of a bottom. At the same time, it forms a support trendline along the lows of %K. It caught the bottoms in 2015 and 2019 and fell below 20 again in Nov 2022. RSI MA falling onto near 50 (mid channel) signals another possibility of a bottom. It also forms a support trendline along the lows. It caught the bottoms in 2015 and 2019 and fell on 50 again in Nov 2022. OBV smoothing line has behaved a bit late in bottom signaling, but it can confirm the true bottoms coming. It also forms a support trendline along the lows. It confirmed the bottoms in 2016 and 2019. It now confirm the true bottoms has come in May 2023. https://x.com/TATrader_Alan/status/1713466199047328052?s=20

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#Bitcoin formed Pre-halving Bull Runs from the bottoms to the halving days. In the first halving in 2012, it formed a 54° angle from the bottom. In the second halving in 2016, it formed a 49° angle from the bottom. In the third halving in 2020, it formed a 38° angle from the bottom. If we apply those angles to the forth halving happening in April 2024, we will see #Bitcoin at $186k in the best case with a 54° bull run, $128k with a 49° bull run and $65k in the worst case with a 38° bull run. Do you think $BTC can reach better than the best case (>$186k), at the best case ($186k), between the best and worst case ($65k-$186k), at the worst case ($65k) or worsen than the worst case (<$65k)?

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The same configuration of #Bitcoin has repeated itself. In the green channel, $BTC hit multiple points to the upper and lower lines. After a period of cool down in the orange arrows, it will send to the next level.

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What if #Bitcoin plays this out? Will you be shaken out or catching the best buying point?

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This is how Parabolic Rallies of #Bitcoin brew itself. Most of the time when #Bitcoin moves in Parabolic way, it first drops down below a support trendline. In other words, this breakdown signals a high possibility of parabolic moves afterwards.

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