With a strong support level at $66.238, price is currently bouncing on the KIJUN(red line) which is serving as a support level.
In the previous analysis on BTGUSD( https://ci.covesting.io/tradeidea/btgusd-2) charts still remains valid with targets. As price has move more horizontally to the right without a spike in price to the up side, a chart pattern has being spotted called THE CUP &HANDLE PATTERN.
Price trend Upward OR downward leading to the pattern. Price should rise or drop by at least 30% leading to the cup.
Shape looks like A rounded turn that looks like a cup with a handle on the right.The cup should be U-shaped, not V-shaped and The cup must have a handle on the right.
Cup duration should have a minimum of 7 to 65 weeks and Handle duration 1 week minimum but usually lasts 1 to 2 weeks.
A cup and handle pattern on bar charts resembles its namesake, a cup with a handle.
The cup is shaped as a "U" and the handle has a slight downward drift.
The right-hand side of the pattern typically has low trading volume, and may be short with minimum of seven weeks or as long as 65 weeks. The oscilator(stochastic RSI) is fully oversold as well too
Technicals suggests that price targets on the previous chart analysis are still valid.
Disclaimer: This is for educational purposes,it is not intended as a financial advice.
The analyst won't be responsible for a loss of fund. Trader should be able to manage risk.