Po.et (POE): Bullish Cup & Handle

SUMMARY

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Here is Po.et (POE/BTC) pair where a deep falling ABC (red) correction occurred and price has rounded to generate a nearly complete Cup & Handle pattern. Is this bullish? As long as price doesn't exceed lowere than than the lowest point of the cup, it's likely to be bullish. The left wal of the rounded formation was posted by the C wave decline and the right wall was built by the blue impulse. The handle formation is still in progress but should be at the terminal end.
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The Fib levels show that the retracement should hit the 0.78 level and that means a probable incremental lower low. The MACD should also turn up after a moderate decrease, as shown in the below chart. Bullish? What do you think? Is this the time to be taking buying or selling actions?
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Legal Disclaimer: I am not a financial advisor nor is any content in this article presented as financial advice. The information provided in this blog post and any other posts that I make and any accompanying material is for informational purposes only. It should not be considered financial or investment advice of any kind. One should consult with a financial or investment professional to determine what may be best for your individual needs. Plain English: This is only my opinion, make of it what you wish. What does this mean? It means it's not advice nor recommendation to either buy or sell anything! It's only meant for use as informative or entertainment purposes.

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