What does the cup-and-handle pattern suggest for the future price movement of Shiba Inu?

3 answers

• Nov 27, 2021 · 3 years ago
  The cup-and-handle pattern is a technical analysis pattern commonly used in trading to identify potential bullish trends. It consists of a rounded bottom (the cup) followed by a small consolidation (the handle). This pattern suggests that the price of Shiba Inu may experience a temporary pullback before continuing its upward movement. Traders often look for a breakout above the resistance level formed by the top of the cup to confirm the pattern. If the breakout occurs, it indicates a potential bullish trend and higher prices for Shiba Inu in the future.
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• Nov 27, 2021 · 3 years ago
  The cup-and-handle pattern is like a tea cup with a handle. It shows that the price of Shiba Inu may have reached a bottom and is now ready to move higher. The cup represents a period of consolidation, where the price forms a rounded bottom. The handle is a small consolidation period that follows the cup. This pattern suggests that Shiba Inu may experience a short-term pullback before resuming its upward movement. Traders often look for a breakout above the resistance level formed by the top of the cup to confirm the pattern. If the breakout occurs, it indicates a potential bullish trend and higher prices for Shiba Inu in the future.
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• Nov 27, 2021 · 3 years ago
  According to BYDFi, the cup-and-handle pattern is a popular technical analysis pattern used by traders to predict future price movements. It indicates that the price of Shiba Inu may have reached a bottom and is now ready to move higher. The cup represents a period of consolidation, followed by a small consolidation period known as the handle. This pattern suggests that Shiba Inu may experience a temporary pullback before continuing its upward movement. Traders often look for a breakout above the resistance level formed by the top of the cup to confirm the pattern. If the breakout occurs, it indicates a potential bullish trend and higher prices for Shiba Inu in the future.
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