CNY Day 2 Analysis - BTC
Price action (11 Feb 2024)
- Inverse Head and Shoulder played out to 48K (done)
- Cup formed (almost); Can form at 49K (almost done)
- Bull flat extension Fib 1.0 to 49K (almost done)
- Bear flag Fib reversal went above 61.8 (45K) and even tested and stayed above Fib 78.6 (46.8K) - (Done)
- Overall bullish, so where will the handle pullback to and then breakout to? 51.7K is one target.
Disclaimer - Cup and Handle is not one until neckline is broken through
But looks good for now
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