NOTUSDT - Cup & Handle Breakout Setup | 11% Profit Potential
This 1-hour chart of NOT/USDT on Binance presents a well-defined Cup & Handle pattern, which is a strong bullish continuation formation. If the pattern plays out correctly, we could see an 11% price surge after a breakout above resistance.
Understanding the Cup & Handle Pattern:
🔹 The Cup: This rounded bottom structure indicates accumulation after a downtrend, signaling a shift from bearish to bullish sentiment. The market slowly builds momentum, forming higher lows.
🔹 The Handle: After the cup formation, price faces resistance and consolidates slightly downward. This acts as a final shakeout before buyers regain control.
🔹 Breakout Confirmation: A breakout above the yellow resistance zone (~0.002573) with strong volume would confirm the pattern, increasing the probability of a significant move.
Volume confirmation is key to validate the breakout.
If the price rejects resistance, further consolidation may occur before another breakout attempt.
Always use proper risk management to protect your capital.
🔥 What do you think about this setup? Drop your thoughts in the comments! Let’s grow together! 🚀
📊 Chart by @mbarzakh | Follow for more trading insights and updates!
Understanding the Cup & Handle Pattern:
🔹 The Cup: This rounded bottom structure indicates accumulation after a downtrend, signaling a shift from bearish to bullish sentiment. The market slowly builds momentum, forming higher lows.
🔹 The Handle: After the cup formation, price faces resistance and consolidates slightly downward. This acts as a final shakeout before buyers regain control.
🔹 Breakout Confirmation: A breakout above the yellow resistance zone (~0.002573) with strong volume would confirm the pattern, increasing the probability of a significant move.
Volume confirmation is key to validate the breakout.
If the price rejects resistance, further consolidation may occur before another breakout attempt.
Always use proper risk management to protect your capital.
🔥 What do you think about this setup? Drop your thoughts in the comments! Let’s grow together! 🚀
📊 Chart by @mbarzakh | Follow for more trading insights and updates!
Trade active
Cup & Handle pattern in Play NOW!🚀 The price is testing key resistance at $0.002573, and if it holds, we could see further upside momentum.
Raised 4.31%
Pattern in Play – What’s Next?
✅ Breakout – a confirmed hold above $0.002573 could send the price higher!
✅ Watch for a retest of the breakout zone as potential confirmation for a long entry if missed at support.
✅ If rejected, watch the support zone for potential accumulation.
✅ If the price dips, support could act as a re-entry zone.
📌 Volume confirmation is key – A strong breakout needs solid buying pressure to sustain the move.
Trade closed: target reached
Price Increase 7.61% from breakout.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.