animaltracks

Cup & Handle on BEAM Cryptocurrency

Long
BINANCE:BEAMUSDT   Beam / TetherUS
Here we can see a very nice cup & handle forming on BEAM private cryptocurrency. This crypto have a lot of upside potential because it has been in accumulation for over 3 years and the mcap is very low for what the utility can offer. The end of the cup and handle coincide with the announcement of the long awaited staking feature. To stay conservative, we should move to 1.7 USD over the next weeks before doing a micro pullback and probably target higher. NFA
Comment: The cup & handle is still on track at the moment, BEAM staking is starting tomorrow at 11AM UTC, volume should rise after this which should complete the cup & handle. NFA
Comment: The staking have been launched and have been very smooth so far. Unfortunately, today's high volatility in Bitcoin made Beam unfortunately fall and break the cup and handle pattern I drawn above but not everything is lost! If we can hold the fib 0.5 (0.8088) or worse case 0.382 (0.7596), we may still be able to do the handle, which will take a little bit more time. This scenario is invalidated if we fall below 0.7596.
Comment: The cup & handle did not happen as we went below 0.7596c. However, I figured out an Inverted H&S on Daily & a EMA 200 + MA 200 Golden Cross on Daily. You can see the new idea on my profile.