What are the potential price targets after a cup and handle breakout in the crypto market?

3 answers

• Nov 24, 2021 · 3 years ago
  When a cup and handle pattern breaks out in the crypto market, traders often look for potential price targets based on the pattern's height. One common approach is to measure the distance from the bottom of the cup to the top of the handle, and then add that distance to the breakout point. This can give an estimate of where the price might reach after the breakout. However, it's important to note that these price targets are not guaranteed and should be used as a guide rather than a definitive prediction.
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• Nov 24, 2021 · 3 years ago
  After a cup and handle breakout in the crypto market, the price targets can vary depending on various factors such as market sentiment, overall market conditions, and the strength of the breakout. Traders often use technical analysis tools and indicators to identify potential levels of support and resistance that can act as price targets. Fibonacci retracement levels, previous swing highs, and psychological levels are some commonly used price targets. It's important to analyze the market carefully and consider multiple factors before setting price targets.
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• Nov 24, 2021 · 3 years ago
  After a cup and handle breakout in the crypto market, traders should consider potential price targets based on the pattern's characteristics. The cup and handle pattern is a bullish continuation pattern, indicating that the price is likely to continue its upward trend after the breakout. Traders can look for resistance levels that were formed during the cup formation and use them as potential price targets. Additionally, Fibonacci extension levels can be used to identify possible price targets beyond the resistance levels. It's important to monitor the market closely and adjust price targets as the price action unfolds.
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