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Sure sign for Incoming Pump! ‘Cup and Handle Pattern’
Do you want to identify which coin is going to #Pump ?
There is a sure sign found in the price charts of most crypto coins before starting a huge upside rally. It is a “Cup and Handle Pattern”.
Over time, technical analysts have studied the equity charts and identified price behavior before a major pump. The trading behavior of some big whales is reflected on a trading chart in the form of a Cup and Handle. It represents accumulation taking place in the crypto coin. After this accumulation, further buying by whales results in a breakout of the pattern, and the bull run accelerates when other traders join the buying.
Structure of the Cup and Handle
Two lips elevated from a rounding bottom and a handle on the right side. Before the formation of a cup and handle pattern, the price should move up to visibly form the left lip. After the formation of the patterns, the price should offer a breakout at heavy volume.
Confirmation of Cup and Handle Pattern: The volume Profile
The volume profile confirms the formation of the pattern. The trading volume dries as the price approaches the bottom of the cup but it increases during the formation of the right lip of the cup. The volume should visibly decline during handle formation and it should significantly increase on breakout. Price breaching the line connecting the handle to the left lip marks the breakout.
The case of PENDLE and SATS:
$PENDLE has observed a huge pump within the last month. Before starting this rally, a clear “Cup and Handle” pattern was formed 1d price chart. PENDLE price offered a breakout of around 1.4 USDT at heavy trading volume. As of now, the coin price has doubled.
Similarly,$1000SATS price appreciated more than 2 times after the breakout of the ‘Cup and Handle Pattern’ formed in the 1d price chart.
Note: A cup and Handle pattern formed after a significant downtrend is the more effective and successful sign for a potential rally.
Master this chart pattern if you want to spot an upcoming pump in a crypto coin.
#TradingTips #chartpatterns
#TrendingTopic #dyor
There is a sure sign found in the price charts of most crypto coins before starting a huge upside rally. It is a “Cup and Handle Pattern”.
Over time, technical analysts have studied the equity charts and identified price behavior before a major pump. The trading behavior of some big whales is reflected on a trading chart in the form of a Cup and Handle. It represents accumulation taking place in the crypto coin. After this accumulation, further buying by whales results in a breakout of the pattern, and the bull run accelerates when other traders join the buying.
Structure of the Cup and Handle
Two lips elevated from a rounding bottom and a handle on the right side. Before the formation of a cup and handle pattern, the price should move up to visibly form the left lip. After the formation of the patterns, the price should offer a breakout at heavy volume.
Confirmation of Cup and Handle Pattern: The volume Profile
The volume profile confirms the formation of the pattern. The trading volume dries as the price approaches the bottom of the cup but it increases during the formation of the right lip of the cup. The volume should visibly decline during handle formation and it should significantly increase on breakout. Price breaching the line connecting the handle to the left lip marks the breakout.
The case of PENDLE and SATS:
$PENDLE has observed a huge pump within the last month. Before starting this rally, a clear “Cup and Handle” pattern was formed 1d price chart. PENDLE price offered a breakout of around 1.4 USDT at heavy trading volume. As of now, the coin price has doubled.
Similarly,$1000SATS price appreciated more than 2 times after the breakout of the ‘Cup and Handle Pattern’ formed in the 1d price chart.
Note: A cup and Handle pattern formed after a significant downtrend is the more effective and successful sign for a potential rally.
Master this chart pattern if you want to spot an upcoming pump in a crypto coin.
#TradingTips #chartpatterns
#TrendingTopic #dyor
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