$OMUSDT Chart: Cup & Handle Breakout in Progress. Bullish pump!!
OMUSDT has completed a Cup and Handle pattern with a breakout. The Cup and Handle formation typically leads to strong upward moves, with momentum accelerating post-breakout. The price could rally towards key zones $4.1915, $4.5573 and finally $5.2100. However, traders should remain cautious and set stop-losses below $3.6600 to manage downside risks.Cup and Handle Formation:
- A rounded "Cup" pattern has formed over several days, signalling gradual accumulation and reversal.
- The "Handle" is represented by a small Bull Flag or downward-sloping consolidation, which is a bullish continuation signal.
- The breakout from the handle signifies the resumption of the bullish trend.
Parameters
Entry: 3.97
TP1: 4.20
TP2: 4.55
TP3: 5.21
SL: 3.66
This is a 1:4 RR Bullish setup.
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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.