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24h Vol:
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ETH:
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COV:
$0.00

ETCUSD

PAIR: ETCUSD

After dropping down to 13usd on the 1st of April 2018(which is a major support level) price has move up currently holding at 22.135usd with a resistance at 23.4usd.


To determine trend in price and its possible move, a chart pattern has being spotted on the 4hours time frame.
THE CUP and HANDLE CHART PATTERN.
The cup and handle chart pattern is a bullish pattern tht takes up to minimum of 7weeks to be completed.
The Cup with Handle is a bullish continuation pattern that marks a consolidation period followed by a breakout.
Price trend Upward leading to the pattern. Price should rise by at least 30% leading to the cup
The Shape should be a rounded turn that looks like a cup with a handle on the right.The cup should be U-shaped, not V-shaped,The cup must have a handle on the right.(Cup duration From 7 to 65 weeks and the Handle duration 1 week minimum but usually lasts 1 to 2 weeks)
Volume shape - Cups with U-shaped volume tend to perform better post breakout.

Technicals suggest a strong bullish flip to the up side as the cup and handle patterns breaks out and closes out the pattern.

VERDICT:

BUY: 23usd( when price closes outside the handle)

SELL: 28usd, 30usd and 34usd

STOP LOSS: 19usd

Disclaimer: This is for educational purposes,it is not intended as a financial advice.
The analyst won't be responsible for a loss of fund. Trader should be able to manage risk.

$COV HODL