FETBTC: Perfect Cup & Handle Pattern
FETBTC pair is forming a perfectly bullish cup & handle pattern which has been formulating over a 7-month period.
1- Previous high of 1151 sat (18th August 2020) almost perfectly lines up with the recent high of 1540 sats (28th March 2021)
2- Usually, the cup spreads out over a period of 1-6 months or longer. In this case, the cup took 222 days (approx. 7.5 months) to form.
3- The handle plays out between 1-4 weeks before a breakout (or rejection) occurs. FETBTC has been in the handle consolidation pattern for 14 days and counting.
Personally favor the chances of a breakout and we could see a target up to 2450 sats if it breaks out of the handle!
1- Previous high of 1151 sat (18th August 2020) almost perfectly lines up with the recent high of 1540 sats (28th March 2021)
2- Usually, the cup spreads out over a period of 1-6 months or longer. In this case, the cup took 222 days (approx. 7.5 months) to form.
3- The handle plays out between 1-4 weeks before a breakout (or rejection) occurs. FETBTC has been in the handle consolidation pattern for 14 days and counting.
Personally favor the chances of a breakout and we could see a target up to 2450 sats if it breaks out of the handle!
Comment:
Previous high of 1551*