$BTC

Cup and Handle #Pattern in Bitcoin and #Gold Charts

To summarize, the Cup and Handle pattern is a continuation pattern. When it appears in an uptrend, it indicates that after a correction, the price can continue rising. If it appears in a downtrend, it suggests that the price could continue falling.

From a psychological perspective, after a significant amount of buying, those who think the price has reached a reasonable level may start selling. However, because more people believe the price will rise further, rather than a steep decline, a complex correction occurs, often with gradual buying. Once the price surpasses the previous high, the trend continues with a significant increase.

Today, I’ve briefly explained the Cup and Handle pattern.

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