Vertcoin (VTC): Bullish Cup & Handle

haejin (87)in #vertcoin • 6 years ago (edited)

SUMMARY

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Here is a crisp example of a double rounded price formation with the second morphing into a Cup & Handle pattern. What does the double rounded bottom mean? It functions to allow the correction alot more time extension so that consolidation can prep for the next rally. It seems to have its own cycle of rallies in that it didn't surge at the end of last year but rather rallied in a price spike in June of 2017. Could that cycle repeat for June of 2018?

IF the handle portion of the pattern breaks out, it would allow the onset of the cyclical rally into early Summer. Bear in mind none of this occurs overnight. Even the breakout from the handle could still be followed by additional sideways action into later in the year as cycles are known to shift. However, I believe the rally will go into July or so.

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6 years ago in #vertcoin by haejin (87)

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thabiggdogg (56) 6 years ago (edited)

@Haejin if you should be flagging anything go flag @JerryBanfield's new post. You should not be flagging us minnows. We do NO DAMAGE to you. But he does. And he just abused the system with bots. Lets see you FLAG that mother fucker. Flag him with your accounts. STEP UP YOUR GAME BRO!!! https://steemit.com/dlive/@jerrybanfield/3ffc3520-426a-11e8-836a-b9befc1a6029

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workin2005 (67) 6 years ago

Thanks for taking the time to post on VTC Haejin. I do have a sincere query...and I mention this with all due respect.
I thought a cup and handle pattern needed to be fairly parallel between the start and end points just prior to the handle. Something like this:

The pattern you're labeling as a cup and handle has almost a 45 degree angle between start and end points. Are you sure this should be labeled a cup and handle pattern?

I honestly don't mean to insult you. I've become a better trader partially due to watching your analysis over the last year. That said, I'd like to get clarification as I've never seen an analyst label a pattern like this as a cup and handle. Thanks in advance.

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