$OMUSDT Chart: Cup & Handle Breakout in Progress. Bullish pump!!

5 Des 2024

OMUSDT has completed a Cup and Handle pattern with a breakout. The Cup and Handle formation typically leads to strong upward moves, with momentum accelerating post-breakout. The price could rally towards key zones $4.1915, $4.5573 and finally $5.2100. However, traders should remain cautious and set stop-losses below $3.6600 to manage downside risks.

Cup and Handle Formation:
- A rounded "Cup" pattern has formed over several days, signalling gradual accumulation and reversal.
- The "Handle" is represented by a small Bull Flag or downward-sloping consolidation, which is a bullish continuation signal.
- The breakout from the handle signifies the resumption of the bullish trend.

Parameters
Entry: 3.97
TP1: 4.20
TP2: 4.55
TP3: 5.21
SL: 3.66

This is a 1:4 RR Bullish setup.
Like and comment your thoughts about the setup.