With the obvious extended bloodbath going on in the crypto world, I was checking out my top two positions in my portfolio, ETH and NEO ... and both charts are setting themselves up for a cup and handle pattern.
Usually, cup and handle patterns almost always lead up to a break out point, at the end of the handle portion of the pattern.
Have a look below at the ETH/BTC and then the NEO/ETH charts.
(ETH/BTC chart via Binance on Blockfolio)
(NEO/ETH chart via Binance on Blockfolio)
Notice on the ETH/BTC cup and handle chart show the cup portion is a bit wide and extended with the handle starting to form.
Notice on the NEO/ETH cup and handle chart showing the cup portion is a bit deep and narrow with the handle as well in its formation phase.
Now you might be wondering ... how long will the handle phase take before the breakout?
I'm thinking the breakout will happen sometime in the end of February. The handle should continue its formation threw mid-February.
After that, then both ETH and NEO should make more gains.
If you are looking for something to buy, right now both ETH and NEO are still great buys.
Are any of you guys still HODL-ing ETH or NEO?
HODL baby. ETH, NEO, and a few others have definitely been showing some relative strength ever since the Bitcoin correction started and leaked into the rest of cryptoland. Looking for ETH, NEO, etc. for leadership here...
amigo lo describes muy bien es un autentico "Baño de Sangre", lo que esta pasando con las cryptos hay mucha gente deprimida
Exactly!!! @samstickkz did a lecture on this yesterday and encouraged us to buy...
Now this is just another confirmation. ✊
Please am confused, how do you read the charts?
Good one
That is interesting and encouraging.
Thank you for the cup and handle description. I'm pretty sure right now is a great time to buy any of the top 10... ;)