BTC TO CNY 9.553,44 USD 1.375,35

Long, but not so much.

Combining the cup and handle pattern with Elliot's impure waves, this could be a possible target by forming Elliot's third wave in those values.

At today's exchange rate:
1 CNY = 0.143971 USD
Price target
CNY 9.553,44.-
USD 1.375,35.-

Thanks for your time, follow and likes!

Comentário:

The retracement does it perfectly until the level 0.618 of Fib to later do the pullback, become bull, breakout and added to these factors, the increase of volume in the handle confirming technically well the pattern.
The fourth and fifth wave are missing.
Most likely they will happen until the third is finished. That is, the third one would become the fifth. Nothing was understood, just as important is the target hahahah

www.tradingview.com/chart/MlLL5s1T/