BNB(ALL SET FOR NEW ATH)
CUP AND HANDLE
The cup and handle pattern is a bullish continuation pattern that signifies a period of consolidation followed by a breakout to the upside. Here's a breakdown of its components:
Cup: The price declines, forms a rounded bottom (like the shape of a "U"), and then rises back to approximately the same level as the decline started.
Handle: Following the cup formation, the price moves sideways or slightly downward in a consolidation phase, forming the handle. This handle is typically shorter and resembles a flag or pennant.
Breakout: The pattern is complete when the price breaks out above the resistance level formed by the rim of the cup.
The cup and handle pattern is a bullish continuation pattern that signifies a period of consolidation followed by a breakout to the upside. Here's a breakdown of its components:
Cup: The price declines, forms a rounded bottom (like the shape of a "U"), and then rises back to approximately the same level as the decline started.
Handle: Following the cup formation, the price moves sideways or slightly downward in a consolidation phase, forming the handle. This handle is typically shorter and resembles a flag or pennant.
Breakout: The pattern is complete when the price breaks out above the resistance level formed by the rim of the cup.
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