Cup and handle is forming on the 1h and 4h chart. However, on the 4h chart is more V-shaped which is a nice sign of reversal.
Also, the 20&200 EMA crossed after the cup was formed. That could mean 2 things, either the formation of a "death cross" which signals a bearish run or in our case because we have confirmation of the cup and handle formation the "golden cross" signaling a bullish run.
If my theory is correct we are going to see the price testing the trendline resistance once again and maybe breaking it as well.
Also, the 20&200 EMA crossed after the cup was formed. That could mean 2 things, either the formation of a "death cross" which signals a bearish run or in our case because we have confirmation of the cup and handle formation the "golden cross" signaling a bullish run.
If my theory is correct we are going to see the price testing the trendline resistance once again and maybe breaking it as well.
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