ETHUSD Daily Chart - Cup & Handle Pattern Possibly Forming
Bullish cup and handle pattern could form on ETHUSD daily chart and there is then a possiblity to trade a breakout with a good price target to aim for, Here is what has to play out:
1. Reach the price of about $192-$193 area (top of the cup area)
2. Price must not correct not more than $167
3. It must trend upwards again from the correction or retrace area (the cup handle) and achieve a breakout above $192-$193 area
4. Target price for profit is $267
Just wanted to share this observation. This may or may not play out. Not financial advice. Please always do your own research and trade carefully and only what you can afford to lose. Nothing is 100% ever!
There is another cup and handle pattern possibility on the weekly chart and for that, it can only complete the pattern around the middle of next year and I came up with the target price of $600+ if the pattern plays out. Refer to chart in the link.
Personally I am bullish on BTC (bottomed at $6400+) and ETH (bottomed at $115+)
Thanks for dropping in.
Good luck on your trades!
1. Reach the price of about $192-$193 area (top of the cup area)
2. Price must not correct not more than $167
3. It must trend upwards again from the correction or retrace area (the cup handle) and achieve a breakout above $192-$193 area
4. Target price for profit is $267
Just wanted to share this observation. This may or may not play out. Not financial advice. Please always do your own research and trade carefully and only what you can afford to lose. Nothing is 100% ever!
There is another cup and handle pattern possibility on the weekly chart and for that, it can only complete the pattern around the middle of next year and I came up with the target price of $600+ if the pattern plays out. Refer to chart in the link.
Personally I am bullish on BTC (bottomed at $6400+) and ETH (bottomed at $115+)
Thanks for dropping in.
Good luck on your trades!
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