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Weak Cup and Handle Pattern forming for Altcoin Market

Written By: ChartChamp

August 19, 2024

There is a cup and handle pattern forming for the Altcoin market. This cup and handle pattern is a pretty weak one because the Altcoin market failed to reach the white resistance target around $992 billion. There is a handle pattern forming here though, and I would closely monitor the price action here. I don’t like what I’m seeing for Bitcoin so there should be concerns for more shakeouts and steeper decline for the Altcoin market. I have $480 billion on the lower end of this handle, and $629 billion at the upper end of the handle.

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