Long
A STORM is brewing.
DYOR
Cup has fully formed and handle is in the works. Look for a breakout equal to about the depth of the cup, but only if the handle completely forms. In the interim, I think we may see a drop in price to the 570-590 rang to form the bottom of the handle. For the handle to form completely, we need to see it hit 640-650 in the next week or so. Volume as always, is key to any breakout. Expect to see people taking profit in the 800+ range, but many are long on this and will hold expecting 0.25 - 0.50 in the next 6-12 weeks. Not financial advice.
Cup has fully formed and handle is in the works. Look for a breakout equal to about the depth of the cup, but only if the handle completely forms. In the interim, I think we may see a drop in price to the 570-590 rang to form the bottom of the handle. For the handle to form completely, we need to see it hit 640-650 in the next week or so. Volume as always, is key to any breakout. Expect to see people taking profit in the 800+ range, but many are long on this and will hold expecting 0.25 - 0.50 in the next 6-12 weeks. Not financial advice.
Note
charted cup and handle pattern invalid.... could see a larger cup forming or we just saw a bull flag/pennant break. Volume is strong and steady, just what any coin needs on a breakout.
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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.