$Steem prediction on weekly ch. Possible Cup and Handle pattern!
Hello Traders,
I have been observing a solid Cup and Handle pattern on the weekly chart. As a general rule, cup and handle patterns are considered bullish price formations. Pay close attention to the $0.30 level. If we can close the weekly candle above this level, it will confirm the pattern.
The target for a Cup and Handle formation is calculated by adding the height of the cup to the breakout point of the handle. In this case, I estimate the cup's height to be around $0.15, so when we add that to the $0.30 target, we get a projected price of $0.45 in the near future, if the Cup and Handle pattern plays out as expected.
Previous sample prediction with a similar pattern!
I have been observing a solid Cup and Handle pattern on the weekly chart. As a general rule, cup and handle patterns are considered bullish price formations. Pay close attention to the $0.30 level. If we can close the weekly candle above this level, it will confirm the pattern.
The target for a Cup and Handle formation is calculated by adding the height of the cup to the breakout point of the handle. In this case, I estimate the cup's height to be around $0.15, so when we add that to the $0.30 target, we get a projected price of $0.45 in the near future, if the Cup and Handle pattern plays out as expected.
Previous sample prediction with a similar pattern!
Note
We reached the $0.36 level, but unfortunately, some criminal groups online, primarily from Chinese communities, exchange secret messages before collectively opening short positions. Although we are above the $0.30 level, we did not close the weekly candle above it. Therefore, the Cup and Handle formation is not yet confirmed. 
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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.