With the obvious extended bloodbath going on in the crypto world, I was checking out my top two positions in my portfolio, ETH and NEO ... and both charts are setting themselves up for a cup and handle pattern.
Usually, cup and handle patterns almost always lead up to a break out point, at the end of the handle portion of the pattern.
Have a look below at the ETH/BTC and then the NEO/ETH charts.
(ETH/BTC chart via Binance on Blockfolio)
(NEO/ETH chart via Binance on Blockfolio)
Notice on the ETH/BTC cup and handle chart show the cup portion is a bit wide and extended with the handle starting to form.
Notice on the NEO/ETH cup and handle chart showing the cup portion is a bit deep and narrow with the handle as well in its formation phase.
Now you might be wondering ... how long will the handle phase take before the breakout?
I'm thinking the breakout will happen sometime in the end of February. The handle should continue its formation threw mid-February.
After that, then both ETH and NEO should make more gains.
