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Cup And Handle

Is 2024 Set to Be the Toughest Year for the Crypto Market ?Technical Analysis: Right now, the market's showing signs that might point to a 'cup and handle' pattern in the price charts. For those who aren't familiar, a cup and handle pattern looks a bit like a "U" with a slight dip at the end. Not to get too bogged down in details, but interestingly, in early January 2024, Bitcoin's price hit a ceiling around the same high it did back in March 2022, which was about $48,000. From what I can see, it looks like Bitcoin might be on a bit of a downward trajectory in the short term. I'm thinking we might see the price retract to around the $30K-$34K area in the next few weeks, which could be a point where more buyers jump in. However, this is something we need to watch closely because that range might just turn out to be a support level. If the price falls through that $30K-$34K range I mentioned, then I'm expecting it could drop even further, maybe hitting a new low (we could be talking as low as zero or around $10K). News: Switching gears to the news, there's something intriguing about the BRICS nations considering backing their currency with gold. My first reaction is, "Wow," because it's pretty common to want a currency backed by something as solid as gold. But the big question is how this move will affect the relationship between their currency and cryptocurrencies. If this really takes off, it could be a very tough year for the crypto market. Summary: For now, I'm just keeping an eye on the market's pulse and price movements. I haven't jumped into the market yet, but I'm patiently waiting for the right moment and Brics news.
BITSTAMP:BTCUSDShort
by GoldCartel
4
Lam Research Price action and Indicator confirmationNASDAQ:LRCX appears to be in an ascending triangle of some kind, using the last dip as trend support, I suspect NASDAQ:LRCX will make new highs with the rest of the market. I will target $820 then I honestly think it'll get up to $950 or higher. There is a big cup and handle with a breakout taking place now too. The orange circle is where the handle breakout occurred. I believe there is still low risk in hopping into this trade now. Thanks : )
NASDAQ:LRCXLong
by DontSlamTheDoor
RNDR IS A BAG BULL RUN IN 2024-2025$RNDR is making waves as the go-to distributed GPU rendering network, backed by OTOY, a heavy-hitter in cloud graphics for media and entertainment. Picture this: it's like having your own rendering powerhouse, but in the cloud. Now, what makes $RNDR cool? Well, it's not just your regular GPU rendering magic – it's OctaneRender, the first and fastest GPU render engine out there. And guess who's on board? JJ Abrams, the genius behind Star Trek and Star Wars, is rocking the advisory board. But it's not all Hollywood glam – $RNDR is giving GPU owners a chance to turn their idle GPUs into cash. It's like loaning out your GPUs to creators in need of some serious rendering power. Think of it as a win-win for techies and creative minds. And let's talk big shots – the advisory board is stacked with heavyweights like Ariel Emmanuel (CEO of Endeavor), Eric Schmidt (Google OG since 2001), and Samuel Palmisano (former IBM CEO). Impressive, right? Now, peek into the future. The crypto world's next big story? Spatial computing, and $RNDR is on the forefront. Apple, the $3 trillion giant, is even in on the action with their Apple Vision Pro 2024 launch. It's like the metaverse is knocking on our door. Jules Urbach, the brains behind $RNDR, dreams of a holodeck like Star Trek. Imagine transcending reality, diving into a fully immersive metaverse. The future is all about interactive 3D scenes – just check out Lex Fridman and Mark Zuckerberg's metaverse chat for a sneak peek. $RNDR is not just talking the talk; they've got deals with the big dogs – Disney, HBO, Unity, Meta, and Apple. Plus, they're making a splash on the Solana Blockchain – big moves, right? Now, at a $1.6 billion market cap, $RNDR is looking like a golden ticket. Remember, this is just my take – do your own research and dive into the $RNDR world at your own risk. Cheers to the decentralized metaverse! 🚀
RLong
by anandahaidarr
1
RNDR IS A BAG BULL RUN IN 2024-2025$RNDR the biggest distributed GPU rendering network Backed by OTOY (cloud graphics company for media & entertainment) award winning tech in visual effects, animators, designers, providing new levels of realism powered by the cloud. Advisory board OTOY: Ariel Emmanuel CEO Endeavor (entertainment media agency owns UFC & WWE) Eric Schmidt Former google since 2001 Samuel Palmisano CEO IBM 2003-2011 OctaneRender is the world's first and fastest spectrally correct GPU Render engine, delivering qualiry and speed. Advisory board RNDR: JJ Abrams (Chairman & CEO Bad robot productions) if you ever watch star trek, star wars, etc. Render network gives GPU Owners an opportunity to monetize idle GPUs by offering their computing power to creators that needs rendering resources, like loaning out GPUs for rendering (a lot of talented creators doesn't have that much rendering power at their disposal) The next big narrative in crypto will be spatial computing backed by the $3T giant, apple on their apple vision pro 2024 launch. In the next era of digital media, computational infrastructure is a major bottleneck for many artists, and a decentralized GPU rendering network will play a big role to the solution. The render network consist of two primary layers: 1.Offchain rendering network: creators, node operators (GPU nodes that provide power to the network), and rendering app vendor. 2.Blockchain layers that handle payments via render and escrow contracts. All node operator interactions are publicly verifiable. The ultimate vision of a truly decentealized and open metaverse, lead by the brightest pioneers in the industry. Jules Urbach the CEO of $RNDR has a life-long obsession to create a real star trek's holodeck as a general reference point to explain the tech. The peak of human ingenuity to commoditize space and time, humanity's earned transcendence beyond the ultimate frontier, reality itself. The world is moving from hypertext and hypermedia to a fully immersive metaverse built on complex interactive 3D scenes. Open Lex Fridman and Mark Zuckerberg's first interview in the metaverse and you'll get a glimpse of what the future unfolds. With deals signed with the biggest titans in the industry such as Disney, HBO, Unity, Meta, and Apple. $RNDR personally for me, becomes the clear winner for the spatial computing narrative. The Big Solana Shift: as voted on by the Render Network community in RNP-002, the Render Network will be building out an expansion onto the Solana Blockchain: rndrizKT3MK1iimdxRdWabcF7Zg7AR5T4nud4EkHBof At $1,6b market cap there's so much potential for the upside for $RNDR. Do every investment at your own risk, this thesis is just my personal research on the Render network.
RLong
by anandahaidarr
Bitcoin's Inflection Point: Cup, Handle, and the ETF FactorAmidst Bitcoin's persistent rally and signs of a bullish cup and handle formation, we approach a pivotal moment. The anticipated BTC Spot ETF could be the spark for the market, possibly driving BTC towards $70K. While some view Bitcoin's volatile journey as a divergence from its original purpose, its evolution into a 'store of value' could be cemented by such milestones. Despite skepticism, Bitcoin's narrative adapts and endures, with ETFs possibly ushering in a new era of valuation
BITSTAMP:BTCUSDLong
by maeddy08
1
DBA: Bullish Abandoned Baby on Agriculture Futures ETFThe DBA Agriculture Fund is an ETF that has futures exposure to various different commodities including: Wheat, Corn, Sugar, Live Cattle, Lean Hogs, Cotton, Soybeans, Coffee, and others. As of right now the fund has recently pulled back due to a Bearish Test of the Bearish Bat PCZ but during this time it has formed what looks to be a Cup with Handle and has confirmed a Bullish Abandoned Baby off the 200-Day SMA with Bullish Divergence on both the MACD and RSI. With all these factors being considered along with the recent dramatic increase in charter rates across the containership and dry bulk segments, I think it is very likely that we will see the pricing of these commodities rise once more and likely break significantly above any of the bearish zones.
AMEX:DBALong
by RizeSenpai
6701 - 4 months CUP & HANDLE══════════════════════════════ Since 2014, my markets approach is to spot trading opportunities based solely on the development of CLASSICAL CHART PATTERNS 🤝Let’s learn and grow together 🤝 ══════════════════════════════ Hello Traders ✌ After a careful consideration I came to the conclusion that: - it is crucial to be quick in alerting you with all the opportunities I spot and often I don't post a good pattern because I don't have the opportunity to write down a proper didactical comment; - since my parameters to identify a Classical Pattern and its scenario are very well defined, many of my comments were and would be redundant; - the information that I think is important is very simple and can easily be understood just by looking at charts; For these reasons and hoping to give you a better help, I decided to write comments only when something very specific or interesting shows up, otherwise all the information is shown on the chart. Thank you all for your support 🔎🔎🔎 ALWAYS REMEMBER "A pattern IS NOT a Pattern until the breakout is completed. Before that moment it is just a bunch of colorful candlesticks on a chart of your watchlist" ═════════════════════════════ ⚠ DISCLAIMER ⚠ The content is The Art Of Charting's personal opinion and it is posted purely for educational purpose and therefore it must not be taken as a direct or indirect investing recommendations or advices. Any action taken upon these information is at your own risk.
TSE:6701Long
by TheArtOfCharting
🚀 NEO: Breakout from Weekly Pattern 🚀NEO, in a pivotal moment, grapples with a substantial weekly imbalance, acting as a steadfast barrier to further upward movement. Traders are eagerly eyeing the potential for a breakout, especially after three resilient tests of this crucial level, suggesting the emergence of a genuine upward surge. 📈 Key Observations: 💡 Formidable Weekly Imbalance: NEO contends with a significant weekly imbalance, serving as a robust resistance to sustained upward momentum. 📊 Technical Analysis and Pattern Recognition: 🔄 Triple Test Dynamics: NEO's market dynamics involve a thrice-over testing of this pivotal level, indicating a persistent struggle against formidable resistance. ☕ Cup and Handle Pattern: The repetitive testing of the weekly imbalance draws parallels with the formation of a substantial cup and handle pattern, a classic indicator signaling a potential bullish breakout. 🔮 Anticipating a Breakout: 🎯 Third Time Charm: The third test of this critical level is poised to act as the catalyst for a genuine breakout to the upside. 💼 Strategic Implications: 🚀 Potential for Upside Momentum: Traders and investors are closely monitoring this potential breakout, envisioning a shift in market dynamics and the initiation of sustained upside momentum. 📝 Conclusion: NEO's current position, marked by a resilient struggle against a significant weekly imbalance, suggests the potential for a breakout. The recurring dynamics, akin to a cup and handle pattern, amplify the anticipation of a bullish shift, with the third test of the crucial level holding the key to NEO's future price action. 🚀 Unlock my 3 crypto trading indicators for FREE! 🚀
by AlexWhale