The weekly cup and handle pattern connects to the ascending flag pattern. In terms of the time cycle, the cup body has run for 122 bars from November 2021 to March 2024, while the cup handle has run for 31 bars. From the time cycle perspective, it is also quite consistent, approaching the turning point.
On the daily chart, the ascending flag pattern has 49000 as the dividing line, previously in a downtrend and then turning into an uptrend. Therefore, on the daily chart, we also see a converging triangle pattern with higher lows. 60000 serves as a key support and resistance area; if it does not break down, we can expect an upward oscillation. The fourth quarter is worth looking forward to!
Bitcoin
Yesterday, I reminded that the hourly triangle breakdown needed a retest for confirmation. In the evening, it retested 62000 and rebounded. The weekly candlestick formed a doji, and the price has returned to the middle Bollinger Band. On the daily chart, there were two retests of the Vegas channel providing some support, and the probability of breaking upward after retesting the middle Bollinger Band on the 4-hour chart has increased.
Support: Resistance:
Ethereum
In the evening, it also retested the middle Bollinger Band and rebounded. The daily downtrend line has also been broken, increasing the probability of hitting the W neckline.
Support: Resistance:
Altcoins: BOME: After breaking the issue price, it has returned for the third time. The daily chart shows a descending wedge breaking out with potential for a doubling trend.
FET: The second leader in the AI sector, the weekly chart shows a retest after breaking the head and shoulders pattern, and the daily chart shows a double bullish candlestick breaking out.
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The article is time-sensitive and for reference only, updated in real-time.
Focusing on K-line technical research, sharing global investment opportunities. Public account: Trading Prince Fusu
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