Hi Shoppers,

The cup-and-handle formation in Bitcoin (TIcker: BTCUSD) is coming to fruition.

BTCUSD has traded over $21,550 and busted out trading up to $23,300.

To find the short term target price from here, you take the distance from the high and low of the handle formation.

In this case that is $1,280.

Add that to the breakout resistance level and the total is $22,830.

BTCUSD has surpassed that price.

The longer term target is the difference between the base of the cup price and the resistance level, which is $21,550-$16,500 = $5,050.

Add that to the breakout price of $21,550 and it takes BTCUSD to $26,600.

Check it out on the chart:

Look at that!

Don’t you just love when this happens?

I just find it so amazing.

The $26,000 level lines right up with my next level of resistance on my pitchfork.

Pretty cool, right?

I did buy the ProShares Bitcoin ETF (BITO) calls in the March expiration:

Now on the BITO chart, we are coming up to the 200-day moving average at $14.44, which will create some resistance:

Beyond that on the upside there is resistance at $17.75 and $22.00.

Makes for exciting times ahead.

Thanks for Reading … See You Next Tuesday,

Licia Leslie