$BTC update

what's the next scene .

I'm not bullish about BTC . the reason is here.

you can see a clear cup formation.now the handle is needed to go upward 👆.

Form where we should go for long btc...

To calculate the depth of the handle in a "cup and handle" formation, we follow certain guidelines:

Identify the peak and bottom of the cup:

The highest point in the cup (resistance).

The lowest point (support).

Measure the depth of the cup:

The difference between the highest point and the lowest point of the cup gives the full depth.

Determine the typical handle depth:

The handle is typically 5% to 15% of the cup's depth.

If we assume a standard correction, the handle often retraces around 38% to 50% of the preceding rise.

From the chart, the peak seems to be near $69,571 and the low appears to be around $15,500, so the depth of the cup is approximately $54,071.

If we expect the handle to form:

A typical 5% to 15% drop from the peak of $67,699 could range between $3,385 and $10,211.

So, potential targets for the handle depth could fall around $64,314 to $57,488.

However, this is a general estimate, and handle depths can vary depending on market conditions.

....

To determine the best entry point in a cup and handle formation, you generally want to enter once the handle is complete and the price breaks out from the handle's resistance. Here’s a step-by-step approach:

Wait for the handle to form:

As we discussed earlier, the handle typically drops 5-15% from the peak, which would be around $64,314 to $57,488. Monitor this range as the handle forms.

Watch for a breakout:

Once the price drops and consolidates in the handle, look for a breakout above the resistance formed at the top of the handle. The breakout point could be just above the recent high near $69,571.

Ensure volume increases significantly during the breakout, which confirms the strength of the move.

Ideal Buy Point:

The buy point is typically when the price closes above the resistance level of the handle, which could be slightly above $69,571.

Alternative Entry (Aggressive):

If you're looking to be more aggressive, you could start accumulating near the lower end of the handle, around $64,314, but this comes with more risk since the handle might not be fully formed yet.

Summary:

Conservative Entry: On breakout above $69,571.

Aggressive Entry: During the handle formation near $64,3100.

Or at deep point 57500.

$STORJ $doge #reef #