MEME / TetherUSLong
MEMEUSDT: Cup & Handle Pattern Could Signal Major Reversal!
Yello Paradisers! Are you ready for a potential breakout that could send MEMEUSDT soaring? Let's dive into the latest technical analysis and see what's brewing.
💎MEMEUSDT has recently broken out of a descending channel and is currently showing consolidation. This consolidation is forming a classic cup and handle pattern, which typically increases the probability of a reversal.
💎However, to confirm this bullish move, we need to see a breakout and candle closing above the resistance zone. This would significantly enhance the likelihood of a strong upward move.
💎On the other hand, if a pullback occurs, we might see a potential double bottom forming at the support zone. For confirmation of this bullish structure, we need to observe an I-CHoCH (Internal Change of Character) indicating a shift towards a bullish market structure. This would further increase the probability in our favor.
💎But caution is key! If MEMEUSDT breaks down and closes candle below the support zone, it will invalidate our bullish scenario.
🎖 Remember, patience and discipline are crucial in trading. Stay focused and make strategic decisions. This is the only way you can achieve long-term success in your crypto trading journey.
MyCryptoParadise
iFeel the success🌴
💎MEMEUSDT has recently broken out of a descending channel and is currently showing consolidation. This consolidation is forming a classic cup and handle pattern, which typically increases the probability of a reversal.
💎However, to confirm this bullish move, we need to see a breakout and candle closing above the resistance zone. This would significantly enhance the likelihood of a strong upward move.
💎On the other hand, if a pullback occurs, we might see a potential double bottom forming at the support zone. For confirmation of this bullish structure, we need to observe an I-CHoCH (Internal Change of Character) indicating a shift towards a bullish market structure. This would further increase the probability in our favor.
💎But caution is key! If MEMEUSDT breaks down and closes candle below the support zone, it will invalidate our bullish scenario.
🎖 Remember, patience and discipline are crucial in trading. Stay focused and make strategic decisions. This is the only way you can achieve long-term success in your crypto trading journey.
MyCryptoParadise
iFeel the success🌴
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.