Bitcoin Cup And Handle Breakout

Bitcoin, Blockchain, Crypto, Cryptocurrency, Coin

Image Source: Pixabay


Last week we published a Chart of the Day highlighting the multi-year cup and handle pattern that bitcoin had formed and its similarities with gold's (GLD) technicals.

On the back of President Trump's victory last night, bitcoin's price has now spiked more than $6,000 to trade at new all-time highs above $75,000. The post-election move looks like a clear breakout above all prior resistance levels.From a technical perspective, this breakout essentially marks the end of the cup and handle and the beginning of the post-cup and handle leg higher. Going forward, technicians will be looking for bitcoin's prior all-time highs in the low $70,000s to now act as support.

(Click on image to enlarge)


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Disclaimer: Bespoke Investment Group, LLC believes all information contained in this report to be accurate, but we do not guarantee its accuracy. None of the information in this report or any ...

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