SHIB CUP AND HANDLEW
The cup and handle is a bullish continuation pattern that indicates a period of consolidation followed by a breakout to the upside. It resembles the shape of a tea cup with a handle. Here’s a quick breakdown:
Cup: The price declines, forms a rounded bottom, 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.
Breakout: The pattern is complete when the price breaks out above the resistance level formed by the rim of the cup.
