$Steem prediction on weekly ch. Possible Cup and Handle pattern!

1 Oca

Hello Traders,

I have been observing a solid Cup and Handle pattern on the weekly chart. As a general rule, cup and handle patterns are considered bullish price formations. Pay close attention to the $0.30 level. If we can close the weekly candle above this level, it will confirm the pattern.

The target for a Cup and Handle formation is calculated by adding the height of the cup to the breakout point of the handle. In this case, I estimate the cup's height to be around $0.15, so when we add that to the $0.30 target, we get a projected price of $0.45 in the near future, if the Cup and Handle pattern plays out as expected.

Previous sample prediction with a similar pattern!

5 Oca

Not

We reached the $0.36 level, but unfortunately, some criminal groups online, primarily from Chinese communities, exchange secret messages before collectively opening short positions. Although we are above the $0.30 level, we did not close the weekly candle above it. Therefore, the Cup and Handle formation is not yet confirmed.