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Cup And Handle

Deep Cup and Handle Formation: Price Targets and StrategyIn the current market environment, a fascinating "cup and handle" pattern has emerged on the daily chart, presenting a potentially lucrative trading opportunity. This analysis aims to delineate the characteristics of the pattern, its implications, and a strategic approach for capitalizing on it. **Pattern Depth and Formation**: The "cup" portion of the pattern experienced a substantial drop of 76.14%, indicating high volatility and a deep formation. This was followed by a handle that retraced 23.30% from the top of the cup. The handle has been forming over 59 days, suggesting a significant consolidation period that typically precedes a strong breakout. **Volume Analysis**: Volume dynamics during the handle formation have been stable, maintaining an average level compared to the previous 30 periods, with occasional peaks. This indicates sustained interest and engagement from the market participants while waiting for a clearer direction. **Price Range**: The handle has been oscillating between 78,847 and 56,610. This range is crucial as staying within this boundary suggests a robust formation. A break above this range, especially if accompanied by increased volume, could signal the start of an upward trajectory. **Price Target Calculation**: Based on the depth of the cup (22,237 points from 78,847 to 56,610), the price target post-breakout can be projected at approximately 101,084. This target is derived by adding the depth of the cup to the breakout level at the top of the cup. **Conclusion and Trading Strategy**: Considering the current formation and market conditions, traders should watch for a breakout above the 78,847 level with high volume as a confirmation of the pattern's validity. Setting a price target around 101,084 offers a substantial upside potential. However, it's critical to place stop-loss orders below the lower boundary of the handle at 56,610 to mitigate risks associated with unexpected market turns. This "cup and handle" pattern highlights not only the potential for a profitable trade but also underscores the importance of patience and confirmation in trading strategies. As always, keep an eye on broader market trends and adjust your strategies accordingly.
by vieiraes
SOL can ascend further! BINANCE:SOLUSDT SOLUSDT is in the ascending phase by the cup and handle. SOL is in a large C&H if it follows these pattern, the price will have a nice rally. ⭐The pattern increases the price by the amount of the measured price movement (AB=CD). Stay awesome my friends. _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ ✅Thank you, and for more ideas, hit ❤️Like❤️ and 🌟Follow🌟! ⚠️Things can change... The markets are always changing and even with all these signals, the market changes tend to be strong and fast!!
by CobraVanguard
2
Bitcoin Cup and Handle heading to bullrun?Will this bullrun be formed out of a cup with handle breakout? If the price confirms the resistance at the current region, it could very well be the case. Cup and Handle identification analysis: • Price rises into the start of the cup - ✔ • The cup should be U-shaped, not V-shaped - ✔ • Cup rims should be near the same price level but be flexible - ✔ • A rounded turn that looks like a cup with a handle on the right - loading... • The cup must have a handle on the right - loading... That would lead to Bitcoin's new ATH @ ~$280k by the end of 2025.
BITSTAMP:BTCUSDLong
by B4Baggio
2
Gold going for the 5th wave of the 3rd wave (higher degree)So, I've previously mentioned that Gold has a major cup-and-handle formation (linked to this idea) and that it is a very bullish formation. Price has since broken up and I spent some time to update on the Elliott Wave counts in this analysis. Here's what I expect Gold price to be for the near term: 1. It will move up for a 5th wave of a higher degree 3rd wave. 2. Then it will experience a 4th wave of a higher degree which should be rangy (since wave 2 is a zig-zag). 3. Then another 5th wave up. Overall, it is still a very bullish call.
TVC:GOLDLong
by yuchaosng
Bitcoin Post 4th Halving Price Prediction for 2024Hello my friends! I am back after a long break. Bitcoin has just experienced it's 4th halving event. I took it upon myself to look into past Bitcoin price movement patterns, looking into how Bitcoin's price reacted immediately after Bitcoin experienced a halving event. I'm primarily using a historical time-based analysis approach. Here are my findings: - Bitcoin's prices seem to hold for about 60 days, and then either pump or dump. - Bitcoin appears to experience its constant bullish price movements (bull run) 60 days immediately after each halving event. - Bitcoin appears to reach its final top 133 to 525 days after each halving event (average is 329 days). - Bitcoin appears to reach its top every 1162 to 1449 days each time it touches the upper trend line. - Bitcoin is currently in a major Cup and Handle pattern spanning from 8th of November 2021. We are currently in the 'Handle' phase. My Predictions: - I predict that Bitcoin will go down to 52000, and hover around 53K and 54K for the next 2 months (29th of April 2024, until the 4th of July 2024). - I believe we will promptly head back to 70K at around the 11th of July 2024 (± 5 days). - I predict that there will be a FOMO event once we break all-time-high (73K), and a major psychological FOMO event once we reach 100K as everyone tries to get their hands on some Bitcoin before it's price gains another significant figure for the first time since November 29th 2017 (9999 -> 10000). Entry and Exit Strategies: - I believe we will reach tops of anywhere between 160K to 185K sometime in December 2024, which will be the most ideal time to exit one's Bitcoin position. - Possible entry options are 52-58K , and 78K-88K (once we exist the Cup and Handle). - The least riskiest entry option is approximately 62 days from the 4th halving event, just as it's breaking upward past 57500. Don't forget, Patience is Paramount. Happy trading :)
BITSTAMP:BTCUSDLong
by PatienceIsParamount
3