Bitcoin (BTC) Outlook- 29 December 2018

Image Source: https://www.tradingview.com/chart/BTCUSD/ZiQ9bayR-Bitcoin-Cup-Handle-5800-Target/

Analysis

Analysis indicates cup and handle patterns forming on BTC which could be suggestive of a future rise in prices beneficial for long players.

Terminology

Cup and Handle: A cup and handle price pattern has the shape of a “U” and the handle has a slight downward drift. The right-hand side of the pattern usually has low trading volume, which may be as short as seven weeks or as long as 65 weeks.

Analysis by Cryptology_Bar, Trading View