RocketBomb

CRV vs USD & CRV vs BTC - good to have in portfolio😉

Long
BINANCE:CRVBTC   CRV / Bitcoin
Hello! CRV (doesn't matter in USD or BTC ) formed CUP & HANDLE pattern!


It is worth considering the following when detecting cup and handle patterns:

Length: Generally, cups with longer and more "U" shaped bottoms provide a stronger signal. Avoid cups with a sharp "V" bottoms.
Depth: Ideally, the cup should not be overly deep. Avoid handles that are overly deep also, as handles should form in the top half of the cup pattern.
Volume: Volume should decrease as prices decline and remain lower than average in the base of the bowl; it should then increase when the stock begins to make its move higher, back up to test the previous high.
A retest of previous resistance is not required to touch or come within several ticks of the old high; however, the further the top of the handle is away from the highs, the more significant the breakout needs to be.

KEY TAKEAWAYS
A cup and handle is a technical chart pattern that resembles a cup and handle where the cup is in the shape of a "u" and the handle has a slight downward drift.
A cup and handle is considered a bullish signal extending an uptrend, and is used to spot opportunities to go long.
Technical traders using this indicator should place a stop buy order slightly above the upper trendline of the handle part of the pattern.


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Comments

Thanks for the job
+3 Reply
Would you suggest this is a good time to add more CRV or is this trade done?
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Thanks
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