Cup N' Handle almost complete!
Updated
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Today we bring you the Cup N' Handle. This pattern I found someone else charted but I couldn't find it again and I figured it would be a good lesson to try charting it myself and make my own targets etc.
So I drew my top resistance line and measured the bottom to the top of the cup, to see if the handle is less than 50% and it is just shy of it which means it is valid.
Next step was to take that distance and add it on top of the resistance line to get your target.
My suspicion is that either we complete this pattern slightly before or right on main net launch, and then we go skyward :)
My Target:
1800 sats
Oddly enough, I have seen others project 1800 sats, and that is just the beginning :)
This idea is for reference and educational purposes.
Cup N' Handle Pattern: investopedia.com/university/charts/charts3.asp
Trade safe my friends :)
We are the Cryptono Vikings, a free Discord community where you can come to learn technical analysis for free at your own speed! Come join us discord.gg/9YY4QNV
Today we bring you the Cup N' Handle. This pattern I found someone else charted but I couldn't find it again and I figured it would be a good lesson to try charting it myself and make my own targets etc.
So I drew my top resistance line and measured the bottom to the top of the cup, to see if the handle is less than 50% and it is just shy of it which means it is valid.
Next step was to take that distance and add it on top of the resistance line to get your target.
My suspicion is that either we complete this pattern slightly before or right on main net launch, and then we go skyward :)
My Target:
1800 sats
Oddly enough, I have seen others project 1800 sats, and that is just the beginning :)
This idea is for reference and educational purposes.
Cup N' Handle Pattern: investopedia.com/university/charts/charts3.asp
Trade safe my friends :)
Trade active
Some sideways movement is expected and should not validate the handle. I suspect it will be timed with mainnet launch :)Note
*** Should not invalidate the pattern ***Note
cdn.discordapp.com/attachments/444390877750624256/449359278998945792/unknown.pngThat can not be a coincidence... Lol... I don't think it has been invalidated yet, and more and more I believe this breakout will line with main net!
Note
My buy in's are the green lines, so considering I HODL this long I should probably keep my buy in's for the completion/breakout of this pattern.
Until the apex or the top of the handle you may be able to make some decent profit off of the volatility.
My trades are open without stops, but I will keep an eye and sell if she crashes through that trend line.
Note
Turns out I explained the cup and handle wrong in the OP (I was medicated)1) You measure the height of the cup up to the resistance line
2) Measure the height of the handle up to the resistance line
3) If the height of the handle is more than 50% of the height of the cup the pattern is invalid
4) Add the height of the cup on top of the resistance line to get your max target
Note
We may temporarily come back down to 900ish level but looking at the daily chart, we can see that 1000 sat's will only be resistance for very short while longer.
Play it safe, play the longer term and HODL
On main net launch be sure to have stops set in case it takes a huge dump!
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