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1. Technical characteristics of the head and shoulders top
1. It appears in a strong upward trend, with significant increases in both price and trading volume.
2. In the later stages of the rise, the price of the cryptocurrency makes three attempts to rise but falls back, forming three distinct peaks. The highs of the left and right peaks are basically at the same level, known as the left shoulder and right shoulder; the middle peak is significantly higher than both the left and right shoulders and is called the head.
3. The low points where the left shoulder and head fall back are basically the same, and connecting these two low points with a straight line forms the neckline of the head and shoulders top. If the price falls back for the last time and effectively breaks below the neckline, the head and shoulders top is established. It is generally believed that an effective break means that the closing price falls below the neckline by more than 6%.
4. Trading volume increases with each rise and decreases during declines. However, from the left shoulder to the head to the right shoulder, the overall volume decreases stepwise.
2. Technical implications of the head and shoulders top
1. Once the price effectively breaks below the neckline of the head and shoulders top, the trend will change from rising to falling, which is a sell signal. $ETH
2. The head and shoulders top is mostly a long-term trend reversal pattern, usually appearing at the end of a bull market. $BTC
3. The completion of the head and shoulders top is determined by the effective breakout of the neckline, which is also the standard for traders to sell and short. #币圈
3. Practical logic
1. An upward expanding triangle is an irrational trend, usually appearing alongside positive news, a result of market traders being overly optimistic about that cryptocurrency. If the price of the cryptocurrency experiences continuous increases, and during the consolidation phase, an active expanding triangle appears in trading volume, and then in the subsequent trend gradually shows the head and shoulders top signal, it is a relatively reliable signal to escape the peak. #币圈暴富
2. During the formation of the head and shoulders top, the trading volume generally decreases stepwise, meaning left shoulder > head > right shoulder, showing a downward stepwise decrease. #比特币
3. According to the logic of the second point, when the trading volume of the left shoulder is greater than that of the head, there will be a divergence between volume and price, allowing for early reduction or liquidation of positions. #特朗普暂停新关税
If you are also a tech enthusiast and are diligently researching technical operations in the cryptocurrency circle, you might want to follow the account 'Bitcoin Walker,' where you can get the latest cryptocurrency intelligence and trading skills.
1. Technical characteristics of the head and shoulders top
1. It appears in a strong upward trend, with significant increases in both price and trading volume.
2. In the later stages of the rise, the price of the cryptocurrency makes three attempts to rise but falls back, forming three distinct peaks. The highs of the left and right peaks are basically at the same level, known as the left shoulder and right shoulder; the middle peak is significantly higher than both the left and right shoulders and is called the head.
3. The low points where the left shoulder and head fall back are basically the same, and connecting these two low points with a straight line forms the neckline of the head and shoulders top. If the price falls back for the last time and effectively breaks below the neckline, the head and shoulders top is established. It is generally believed that an effective break means that the closing price falls below the neckline by more than 6%.
4. Trading volume increases with each rise and decreases during declines. However, from the left shoulder to the head to the right shoulder, the overall volume decreases stepwise.
2. Technical implications of the head and shoulders top
1. Once the price effectively breaks below the neckline of the head and shoulders top, the trend will change from rising to falling, which is a sell signal. $ETH
2. The head and shoulders top is mostly a long-term trend reversal pattern, usually appearing at the end of a bull market. $BTC
3. The completion of the head and shoulders top is determined by the effective breakout of the neckline, which is also the standard for traders to sell and short. #币圈
3. Practical logic
1. An upward expanding triangle is an irrational trend, usually appearing alongside positive news, a result of market traders being overly optimistic about that cryptocurrency. If the price of the cryptocurrency experiences continuous increases, and during the consolidation phase, an active expanding triangle appears in trading volume, and then in the subsequent trend gradually shows the head and shoulders top signal, it is a relatively reliable signal to escape the peak. #币圈暴富
2. During the formation of the head and shoulders top, the trading volume generally decreases stepwise, meaning left shoulder > head > right shoulder, showing a downward stepwise decrease. #比特币
3. According to the logic of the second point, when the trading volume of the left shoulder is greater than that of the head, there will be a divergence between volume and price, allowing for early reduction or liquidation of positions. #特朗普暂停新关税
If you are also a tech enthusiast and are diligently researching technical operations in the cryptocurrency circle, you might want to follow the account 'Bitcoin Walker,' where you can get the latest cryptocurrency intelligence and trading skills.
Disclaimer: Includes third-party opinions. No financial advice. May include sponsored content. See T&Cs.
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