CTR has been steadily working it's cup and handle pattern and in fact is working on the handle for it's inner cup as we see in so many coins with this pattern. the Elliot wave pattern confirms it's time to move up again after this handle. Looks like they have a wallet update coming today so I expect a little more buzz around it and a pop to continue the pattern.
Hey, thanks for the idea. Because BTC caused such a dip, does that mean the handle is now part of the cup basin and we will re-form another handle at a higher point?
Or will the handle just make it's way back to the 25K mark and then resume that path?
Much appreciated! Following!
bingong
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@kitkat16, Funny how King BTC just pushes charts even with the TA and then ion retrospect it's like "Oh yeah, that makes sense" lol..... It's almost looking like a slanted cup with the latest drop being its handle. It should continue upwards if btc allows it to. Perhaps looking at past action fractals we might see this
kitkat16
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@JayeB, makes a lot of sense. Thanks for your thoughts, much appreciated!
kitkat16
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@JayeB, looks like you were spot on. Can I ask what you believe is the best way to chart the upswing of the handle? Is it the depth of the right top of the cup to the lowest point in the cup?
Thanks again.
bingong
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@kitkat16, I've seen conflicting info about the handles with many giving the 30% range. For me though, I like to see what the pattern the handle takes which is often a falling wedge, another cup or other patterns that lead to a bullish outcome. Once I spot the pattern, it becomes easier to try and spot what it will do. That's why fractals and pattern recognition is one of the most powerful tools for discernment.
Or will the handle just make it's way back to the 25K mark and then resume that path?
Much appreciated! Following!