BTC cup and Handle pattern target $7820

Cup and Handle Characteristics

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 which 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.