Dogecoin Forms Explosive Cup And Handle Pattern With $4 Target

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Dogecoin Forms Explosive Cup And Handle Pattern With $4 Target - NewsBTC

Quick Summary:

The handle serves as the last phase where weaker hands exit, and stronger buying interest gathers momentum before a decisive move higher. If Dogecoin successfully breaks out of the cup and handle pattern, the projected price target can be estimated using the measured move technique.

Critique: Why This Is Not A Classic Cup And Handle A textbook cup and handle requires specific structural characteristics, including a rounded bottom and a shallow handle, forming near a prior all-time high or key resistance zone before a breakout.

Dogecoin Cup And Handle Pattern The first stage of this pattern, the cup, began taking shape when Dogecoin initially declined from its May 2021 all time high at $0.74.