Cup n' Handle

22 Ağu 2023

Unconfirmed cup n' handle pattern on the 1h chart for HBARBTC

What is confirmed?

- We have a cup
- We have a handle
- We broke above the handle and have held above it
- We've held above highs near the early formation of the left side of the cup

What's required to complete confirmation?

- Break and hold above the red line at 256 (252 was the highest close on the left side)

Target?

- 320 sats as an aggressive first target is displayed on the chart
- aggressive because it's measured from the cup shape and its wick lows rather than the candle close lows to cup top
- A more conservative target would be around 300, which may also act as a psychological resistance

My nice graphic got messed up when posting, so here it is again:



Notes:

- I also prefer to see it remain above 233, and it needs to get back above 246
- Links to related higher timeframe ideas for HBAR are linked below
- Cup top is the top of a current resistance area as seen on this other chart

22 Ağu 2023

İşlem aktif

This idea may become invalidated should we lose the area above the handle, after having lost 233. We are re-testing the top of it now:

23 Ağu 2023

İşlem aktif

The area above the handle has held so far, I've drawn an upper trendline which was tested once so far on the 1h chart. It still needs to break above this and then 252-256 to confirm the pattern: