BTCST - Cup & handle in progress?
As an update to the recent developments with BTCST. The update and launch of the new BTC pool gave BTCST a needed jump and took us up. However, as always, BTC has shaken things up as usual and we are still in the uncertain area of "what is actually happening".
From my point of view we seem to be in progress of developing the cup and handle, whereas the cup is already made and currently working on the handle, a bullish sign. This will imply that BTCST will likely retrace in order for it to go up again (provided it is the handle it is working on). The retracement could take us down as much as 47 usd or even 43 usd, the push down will likely be a lot quicker due to BTC's recent swings but the upward swing could take us a lot higher than the current all time high after the recent redenomination split 1:10. So hopefully we will see greener pastures soon.
From my point of view we seem to be in progress of developing the cup and handle, whereas the cup is already made and currently working on the handle, a bullish sign. This will imply that BTCST will likely retrace in order for it to go up again (provided it is the handle it is working on). The retracement could take us down as much as 47 usd or even 43 usd, the push down will likely be a lot quicker due to BTC's recent swings but the upward swing could take us a lot higher than the current all time high after the recent redenomination split 1:10. So hopefully we will see greener pastures soon.
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