"Cup and Handle" Pattern:
The price movement forms a "cup" shape (yellow curve), which is a well-known bullish continuation pattern. This indicates a gradual recovery back to previous resistance levels.
The "handle" (on the right side) is a small consolidation phase, which could lead to a breakout above the resistance.
Horizontal Resistance (Blue Line):
A significant resistance zone is identified around $30, which has just been broken. This breakout is a strong bullish signal.
Potential Price Target:
The green projection line shows a target around $42, calculated based on the depth of the cup. The distance from the base (around $18) to the resistance is added to the breakout point.
Support Levels:
If the breakout fails, key support levels lie around $18-$20 (yellow dashed line), which could act as a safety zone for buyers.
Bullish Momentum:
The price movement forms a "cup" shape (yellow curve), which is a well-known bullish continuation pattern. This indicates a gradual recovery back to previous resistance levels.
The "handle" (on the right side) is a small consolidation phase, which could lead to a breakout above the resistance.
Horizontal Resistance (Blue Line):
A significant resistance zone is identified around $30, which has just been broken. This breakout is a strong bullish signal.
Potential Price Target:
The green projection line shows a target around $42, calculated based on the depth of the cup. The distance from the base (around $18) to the resistance is added to the breakout point.
Support Levels:
If the breakout fails, key support levels lie around $18-$20 (yellow dashed line), which could act as a safety zone for buyers.
Bullish Momentum:
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Declinazione di responsabilità
Le informazioni ed i contenuti pubblicati non costituiscono in alcun modo una sollecitazione ad investire o ad operare nei mercati finanziari. Non sono inoltre fornite o supportate da TradingView. Maggiori dettagli nelle Condizioni d'uso.