It is very likely that the model "Cup and handle" is formed on the ETHUSDT chart. The cup has been forming for 3 long years, or 1095 days. The ETHUSD price could not overcome the previous high of $1440 at the beginning of 2018. As of now, a high is $1350. Given that BTCUSDT has updated a high of more than twice, logically, the ETH price should be around $3000, but it did not happen.
According to the formation rules of the pattern "Cup and handle", the formation of the handle cannot last longer than 1/3 of a cup, ie a maximum of 365 days or a year until the next powerful impulse. We already feel how we will be hated for such thoughts), because everyone thinks: growth, growth, only growth!
Ideally, the smaller the handle, the stronger the shot up. Therefore it is necessary to watch carefully formation of the handle, and to do it on the given chart it is necessary to like and to write the comment!
We assume two levels for the formation of the bottom of the "handle" - they are $470 and $350. The process of the price lowering there will be long and tedious, especially when most do not believe it yet. We take this global idea as a basis and we will generate short-term ideas based on it, with targets closer.
For example, now the most logical fall to $800 or even to $600, from which we can expect a solid price rebound.
Another important condition in the formation of the "handle" is the volume: in the first half of the "handle" they must be low, such as reluctant fall, no one believes in it and does not sell. As soon as you see that the average daily volumes begin to grow, it is worth thinking about buying. Or even easier, follow us and we will tell you :)
Follow the market in cold blood, without rose-colored glasses and then your deposit will increase. You are not the creators of projects to fanatically believe in them. You are traders - bought-sold, put the profit under the mattress :)
PS: We wrote about a possible BTCUSD cost fall two days ago in _______________________________ Since 2016, we have been analyzing and trading the cryptocurrency market. We transform our knowledge, trading moods and experience into ideas. Each "like under the idea" boosts the level of our happiness by 0.05%. If we help you to be calmer and richer - help us to be happier :)
This is done very well. Thank you for sharing this. I am not tech savvy, can you kindly advise how do we follow you to see the latest updates on this cup and handle. Is it some kind of SMS that we can receive or there is a particular website we check on. Excuse my ignorance, as I said, not tech savvy. God Bless and keep up the good work, seniors like me get to learn from smart people like you something new every day.
manpreetmithu
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Thank you for such a detailed review. Much needed at this time. Waiting for the signals when to buy it back.