🐺ETH/BTC formed CUP & HANDLE pattern in the weekly chart 🐺🤯🚀
Hello traders 🐺 .
in this idea , i found very interesting chart for ETH/BTC , and if this happen , it would be very explosive for ETH and other Altcoins 🚀 .
as usual let's start with the weekly chart :
in the picture above we can see very massive CUP & HANDLE pattern , which formed in the weekly chart ; I think it's very possible to see huge movement for ETH and other Altcoins , if this pattern break , but why I think this is a CUP & HANDLE pattern ?🤔
first of all , look at the weekly support structure ( red box ) , I think in this area we have 2 important support level : 0.382 Fibonacci level , weekly support
so we can say yes this is definitely an important level , so I think this could be very strong support for this CUP pattern and we can count this one as a HANDLE
also I have one more reason , if you zoom into the HANDLE part , you can see price hold above previous low and started to create HL , so all of this signs , could be trend change indication
what is the price target for this pattern ?
1_ by using basic and simple technical analysis we could calculate the price target of this pattern like picture below :
2_ you can also use Fibonacci projection :
by using Fibonacci projection we can see how perfectly the 1.618 is in alignment by the technical target of the CUP & HANDLE pattern 🤯🤯 ;
but also we can see more price targets by using this method , also I think 1.27 and 1.0 is very strong resistance area .
3_ let's see what is the price targets based on the Fibonacci extension 🤔 :
so now we have complete image for ETH/BTC and we are able to see important levels for this trading pair ; but when you draw Fibonacci extension you see how perfectly Fibonacci levels have great connection together , look at the 1.27 Fibonacci extension is in alignment with 1.0 Fibonacci projection , and also look at the 1.618 Fibonacci extension is in alignment with 1.27 Fibonacci projection , and finally we have the technical target of the CUP & HANDLE pattern 🐺🚀 .
let's look at the daily chart :
in the daily chart we can see price created descending channel , if you want to open long position wait for the clear break out from the channel .
🐺I hope you enjoyed this analysis.
Do not forget to like and subscribe
share my ideas with your friends , thanks for watching my ideas🐺
in this idea , i found very interesting chart for ETH/BTC , and if this happen , it would be very explosive for ETH and other Altcoins 🚀 .
as usual let's start with the weekly chart :
in the picture above we can see very massive CUP & HANDLE pattern , which formed in the weekly chart ; I think it's very possible to see huge movement for ETH and other Altcoins , if this pattern break , but why I think this is a CUP & HANDLE pattern ?🤔
first of all , look at the weekly support structure ( red box ) , I think in this area we have 2 important support level : 0.382 Fibonacci level , weekly support
so we can say yes this is definitely an important level , so I think this could be very strong support for this CUP pattern and we can count this one as a HANDLE
also I have one more reason , if you zoom into the HANDLE part , you can see price hold above previous low and started to create HL , so all of this signs , could be trend change indication
what is the price target for this pattern ?
1_ by using basic and simple technical analysis we could calculate the price target of this pattern like picture below :
2_ you can also use Fibonacci projection :
by using Fibonacci projection we can see how perfectly the 1.618 is in alignment by the technical target of the CUP & HANDLE pattern 🤯🤯 ;
but also we can see more price targets by using this method , also I think 1.27 and 1.0 is very strong resistance area .
3_ let's see what is the price targets based on the Fibonacci extension 🤔 :
so now we have complete image for ETH/BTC and we are able to see important levels for this trading pair ; but when you draw Fibonacci extension you see how perfectly Fibonacci levels have great connection together , look at the 1.27 Fibonacci extension is in alignment with 1.0 Fibonacci projection , and also look at the 1.618 Fibonacci extension is in alignment with 1.27 Fibonacci projection , and finally we have the technical target of the CUP & HANDLE pattern 🐺🚀 .
let's look at the daily chart :
in the daily chart we can see price created descending channel , if you want to open long position wait for the clear break out from the channel .
🐺I hope you enjoyed this analysis.
Do not forget to like and subscribe
share my ideas with your friends , thanks for watching my ideas🐺
