How does the cup and handle pattern help identify potential price targets in the cryptocurrency market?

1 answers

• Salazar NymannApr 09, 2024 · 2 years ago
  The cup and handle pattern is a powerful tool for identifying potential price targets in the cryptocurrency market. It is a bullish continuation pattern that indicates a period of consolidation followed by a breakout. Traders often use this pattern to set price targets for their trades. For example, if the cup is 10% deep, they may set a price target 10% above the breakout point. This pattern is widely recognized and used by traders around the world, including BYDFi. However, it's important to note that no pattern is 100% accurate, and traders should always use other indicators and analysis to confirm their decisions.
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