XRP just got a sudden break to the upside both on the xrpbtc chart(shown here) and the xrpusd chart. Here on the xrpbtc chart however we have taken the price action above the rimline of a cup and handle pattern it has been in and if the daily candle can close above this line we have a chance to trigger the breakout on this pattern o this Christmas Day candle and...
the price action has found resistance on a trendline that fits the angle of the other 2 previous tops and creates a valid rimline for a cup and handle with some very notable upside....should this cup and handle trigger it would not only take us to the price target for the previous inverted head and shoulder breakout that we've been patiently waiting to reach but...
Chainlink looking very nice forming the cup and handle (yellow line). If the technical pattern continues we could see a massive rally soon Short term target: 0.00006900 (7%) Long term target: 0.00009345 (50% , recent November highs) Very Bullish target: test above 0.00010000
Guld will rise to resistens levels and create the handle. After that it's 50/50 if we will se the bull or the bear. Sell if the cup line gets broken.
We can see here on the 1 day chart of the ltc/eth pairing that we have a golden cross and an obvious cup and handle set up. Probability favors a bullish break upward above the rimline but you want to wait for 2 consecutive 1 day candles above the rimline to confirm the break because a fakeout is always a possibility even with a golden cross...if we break upward I...
Show here is the 1 day chart bull pennant. I will post the 4hr chart below this to get a better look at the cup and handle. The top trendline of the bull pennant is overlapping with the rimline of the cup and handle pattern...which is currently causing double reinforced resistance...I believe however by the apex of this 1 day bull pennant(next 1 day candle) that...
Keeping this idea neutral now because although both patterns are in play I don't have that high of confidence either will actually get triggered...the main one I'm gonna show first is this Cup & handle pattern that is forming on the 1 hr chart. We can see that the 1hr 50ma and 200ma are very close to completing a golden cross here and that the 200ma on the 1hr...
A Pattern worth keeping an eye on...price action is currently heading back towards the neckline.
Today is the day of inverted cup & handles, it's visible on many coin's charts. For BTC target can be 6560.
Target can be 7000 if it not go lower. It broke down exactly at the time of making it.
In dark turquoise here I ahve drawn an inverted cup and handle pattern...the price action has sent a wick to the neckline...should we not climb back into the symmetrical triangle by the time this candle closes probability is very high that we could trigger this cup and handle pattern...if so the target drop would be down to the bottom trendline of the weekly...
Gang, I am going to keep experimenting with this pattern. I think we are going to see a correction around 6,450, but that's okay we will still hit our target on the chart. Buy the handle. Set a tight stop loss. 5-10% loss with close to 50% gains. Let's get it gang. ***A 100% drop playing out throughout the rest of the year is still very possible. If you ask me...
Yet another cup and handle. Look at coinmarketcap and count how many you see. What do you think will happen? Haha I am excited to see! Cup and handle on smaller time frames have worked for me in the past. Tight stop loss, and high reward, so why not!? :D
Im an ameture trader to a 't' although i belive that what im looking at could be an inverted cup and handle bullish on the release. Any ideas comments concerns appreciated.
After seeing a nice fakeout on the daily of the inverted cup and handle pattern we are now seeing the 4hr chart form both a higher high and at least for now what appears like it will be a follow up higher low...if so the odds are favorable of following that up with another higher high and in doing so very likely we could trigger this currently developing inverted...
As I said in the last 2 ideas wait for confirmation from the volume in this situation. I also said that with both the 4hr and 1 day charts rsi levels right near the oversold zone it would be very difficult for price action to sustain triggering an inverted cup and handle. Right now we are seeing lots of volume. and a big green candle spike...Odds are very good...
This cup and handle is a little more crude than btc's and is slanted downwad but could still be just as valid. Stay focused be careful and pay close attention. Try to avoid all fakeouts don't act until you see some sort of volume confirmation. Notes for myself of course and not financial advice. Best of luck in whatever strategy you choose to employ.
Hard to believe that when the 1 day rsi is this close to the oversold zone that this inverted cup and handle would have any room to plummet here. However if it does indeed trigger we could be lookin at a dip all the way down to 3.6-3.7k . There's a chance if it does trigger it would be a flash crash of sorts. Which could be what could finally catapult the price...