Nervos network CKB/USDT - Cup and handleFrom 8.4. 2020 to 9.7.2020 a cup pattern was formed on the daily CKB / USDT chart.
From 9.7.2020. the handle has begun to form, and the formation of "Cup and handle" can now be clearly seen.
A cup and handle is considered a bullish signal extending an uptrend, and is used to spot opportunities to go long. It can be seen that it is formed ascending triangle in the area of the handle.
Given the above and what the chart shows, a larger price shift can be expected in the coming days. 0.006 USDT represents the beginning of the cup formation and the upper resistance level in the formed asceding triangle in the handle area.
After breaking that resistance, the next resistance is at a price of 0.01 USDT.
This is my idea, not financial advice.
Ckb
Nervos Network Low Is In (93% Target Mapped)About Nervos Network
The Nervos Network describes itself as an open-source public blockchain ecosystem and collection of protocols. The Nervos CKB (Common Knowledge Base) is the layer 1, proof of work public blockchain protocol of the Nervos Network. It reportedly allows any crypto-asset to be stored with the security, immutability and permissionless nature of Bitcoin while enabling smart contracts and layer 2 scaling. It aims to capture the total network value through its "store of value" crypto-economic design and native token, the CKByte.
Source: Coinmarketcap.com
----
Here we have the full chart for Nervos Network (CKBBTC) .
Prices are now trading above EMA10 while aiming for the next resistance.
Multiple scenarios are drawn on the chart.
Namaste.