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In cryptocurrency trading, the "Cup and Handle" pattern is a classic technical analysis chart formation that is typically considered a bullish signal, indicating a potential price increase.

1. Cup:

The price experiences a decline followed by a gradual recovery, forming a "U"-shaped or bowl-like bottom.

This represents a shift in market sentiment from bearish to bullish.

2. Handle:

After the "Cup" is formed, the price often undergoes a slight pullback or sideways consolidation, creating a short-term descending channel or triangle.

This pullback is seen as a period of accumulation before the next upward movement.

3. Breakout:

When the price breaks above the resistance level of the "Handle," often accompanied by increased trading volume, it signals the start of a new bullish trend.

Key Implications

Bullish Signal: This is a strong buy signal, especially after the handle's resistance is broken.