EthereumLong
ETHUSD - Fresh Cup of Bullish Hopium, Cup and Handle?
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Please excuse the Spillage, but how about a Fresh Cup of Bullish Hopium. Is ETHUSD Displaying a Cup and Handle? Previously I have been riding a Bullish Butterfly Pattern rather hard, and in addition - on attempting to relate to the recent minor parabolic moves, this pattern has emerged. Enter Cup and Handle?
The most anticipated Hard Fork has gone live, and the price action hasn't snapped the handle off just yet.
Price action is presently caught under the EMA Ribbon on the 4-Hour Chart, but what's new? Minor uptrend lines are being challenged by the Bears Daily, but Bulls are in the mood for buying dips. Long Positions are still holding ground on Bitfinex.
We have a nice and stubborn Trading Range of $10 here with dump and dip buying on both sides. If this is a Cup and Handle, it'll be set to boil over and up the handle, should it meet the requirements and validate: "The duration for the formation of a handle is usually from 1 week to several weeks. The handle should be considered reliable only when it is formed in the top half of the cup formed..."
Something to watch, and something to read:
http://tutorials.topstockresearch.com/ChartPatterns/CupAndHandle/TutorialsOnCupAndHandleChartPattern.html
Good Luck, Traders. May you find yourself on the profitable side of it!
See my posts on Bullish Butterfly, as this pattern has yet to invalidate and is something to watch as well.
The most anticipated Hard Fork has gone live, and the price action hasn't snapped the handle off just yet.
Price action is presently caught under the EMA Ribbon on the 4-Hour Chart, but what's new? Minor uptrend lines are being challenged by the Bears Daily, but Bulls are in the mood for buying dips. Long Positions are still holding ground on Bitfinex.
We have a nice and stubborn Trading Range of $10 here with dump and dip buying on both sides. If this is a Cup and Handle, it'll be set to boil over and up the handle, should it meet the requirements and validate: "The duration for the formation of a handle is usually from 1 week to several weeks. The handle should be considered reliable only when it is formed in the top half of the cup formed..."
Something to watch, and something to read:
http://tutorials.topstockresearch.com/ChartPatterns/CupAndHandle/TutorialsOnCupAndHandleChartPattern.html
Good Luck, Traders. May you find yourself on the profitable side of it!
See my posts on Bullish Butterfly, as this pattern has yet to invalidate and is something to watch as well.
Nota
Same Pattern drawn out on Bitfinex, looks even better. If this isn't a cup and handle by requirements... I dunno. 
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