ETHUSD Possible Cup & Handle Pattern Breakout Trade Daily Chart

On the daily chart ETHUSD seems to have formed a cup and handle pattern. Currently it would seem that we are printing the handle. There is a breakout trade possibility above the resistance line (based on the rim of the cup where 2 resistance points have already formed from the start of the cup to the end of the cup rim).

Also BTCUSD CME gap is currently on the bullish side and quite substantial from around the 9050+ to wherever the daily candle closes today (Sunday). Am not a fan of CME gaps cause I think its just a manipulators excuse to suppress the price. But nonetheless, its actually going to be on the bullish side this time around. The manipulators are definitely going to test weak hands, hunt for as many long stop losses as they can and liquidate as many longs as they can before they allow the price to resume its natural price discovery upwards. So keep those margins very healthy and only trade with low leverages unless you are a seasoned trader and understand how to use tight stop losses to limit your losses and maximise your gains according to your own chart analysis.

Just sharing an observation. Trade only what you can afford to lose as nothing is 100% in life, ever. Good luck!

Commento:

Here is a previous chart with same cup and handle pattern forming on weekly chart.

Commento:

Here is another cup and handle pattern on ETHUSD daily chart that did have a bullish breakout.