Hi Traders!
Even smaller cryptocurrencies do not escape our attention, and today we will explain a specific pattern on one of them - "cup and handle", or a round bottom.
What is a cup and handle?
It is one of the basic and very popular patterns. You won't find it on the charts as often as, for example, a triangle, wedge or other well-known patterns. It is really quite rare, but it has a high success rate and RRR (Risk to Reward Ratio). We can already tell from its name that this is the bottom and it should be nicely rounded.
You can also see the cup and handle on the UMA / BTC pair. Typical for this pattern is that it is very difficult to draw trendlines, as well as the fact that volumes are starting to increase at the bottom (in our case, they did not yet). It is these increasing volumes that the demand for a given cryptocurrency increases. After completing this pattern, the chart should look like a bowl - ideally as symmetrical as possible.
UMA / BTC
We see one very nice round bottom on this pair. I would expect growth in the coming weeks and months. In terms of numbers, it could be a growth of about + 150%. Sometimes the whole movement is done through one big pump and other times it goes into the shape of a symmetrical bowl. In any case, from the point of view of a possible evaluation, this is a cryptocurrency, to which you should pay increased attention in the near future.
May the crypto be with you!
Even smaller cryptocurrencies do not escape our attention, and today we will explain a specific pattern on one of them - "cup and handle", or a round bottom.
What is a cup and handle?
It is one of the basic and very popular patterns. You won't find it on the charts as often as, for example, a triangle, wedge or other well-known patterns. It is really quite rare, but it has a high success rate and RRR (Risk to Reward Ratio). We can already tell from its name that this is the bottom and it should be nicely rounded.
You can also see the cup and handle on the UMA / BTC pair. Typical for this pattern is that it is very difficult to draw trendlines, as well as the fact that volumes are starting to increase at the bottom (in our case, they did not yet). It is these increasing volumes that the demand for a given cryptocurrency increases. After completing this pattern, the chart should look like a bowl - ideally as symmetrical as possible.
UMA / BTC
We see one very nice round bottom on this pair. I would expect growth in the coming weeks and months. In terms of numbers, it could be a growth of about + 150%. Sometimes the whole movement is done through one big pump and other times it goes into the shape of a symmetrical bowl. In any case, from the point of view of a possible evaluation, this is a cryptocurrency, to which you should pay increased attention in the near future.
May the crypto be with you!