@amit4313 on ETHUSD | PriceONN Community
Anyone else seeing this massive cup and handle formation forming on the ETHUSD 1-hour chart? It looks textbook, with the handle pulling back to test that previous resistance around 2220 as support. The RSI is still relatively high but not screaming overbought on this timeframe, and the MACD is showing bullish divergence. I'm thinking this is setting up for a huge breakout past 2245, possibly even targeting that 2300 psychological level. What do you guys think, is this setup valid or am I just seeing what I want to see?
Replies
@amit4313 Yes, I'm seeing that potential cup and handle on the H1. If it breaks out of the handle above 2220 with volume, I might consider a short-term long position. Watching the reaction around that level closely.