The ocean is the cryptocurrency market, always moving. The waves are the prices of cryptocurrencies rising and falling. As a sailor, you want to know if the waves will grow a lot (the price will rise) or if they will calm down (the price will fall) to know when to set your sails or when to lower them.
🌬️🌊Your Map: The Charts
Your map is the charts. Instead of seeing islands and continents, you see lines and shapes that tell you the story of a cryptocurrency's price over time.
* Japanese Candlesticks: Imagine that each day you place a flag on the map that tells you what happened with the price of a cryptocurrency that day.
* If the flag is green, it means the price went up that day, as if the wind was pushing you forward.
* If the flag is red, it means the price went down that day, as if the wind was holding you back.
* The height of the flag tells you how much the price moved.
* They also have "sticks" up and down that show you how high and low the price reached that day, as if they were the masts of your ship.
🌬️🌊Your Compass: The Patterns
Your compass helps you understand the weather in the ocean. The chart patterns are like shapes in the clouds that give you hints about whether it will rain, if the sun will come out, or if a storm is coming.
* Head and Shoulders: Imagine the chart drawing the silhouette of a sailor with a head higher than his shoulders. If you see this shape, the compass tells you that the trend of the waves might change from rising to falling, perhaps it's time to lower the sails!
* Triangles: They are like triangular mountains on your map.
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* If it is an ascending triangle (the base of the mountain rises while the top remains flat), the compass suggests that the waves are gaining strength and might rise further, perhaps it's time to set the sails!
* If it is a descending triangle (the base of the mountain falls while the top remains flat), the compass suggests that the waves are losing strength and might fall, perhaps you should slow down!
* Symmetrical triangles (both sides of the mountain lean inward) tell you that the market is indecisive, as if the wind is blowing in all directions, and it could go up or down.
🌬️🌊Sailing with Confidence
By understanding these patterns and reading your map (the charts), you can make better decisions about when to "buy" (set sails to go with the current) or "sell" (lower sails to avoid being swept away by the current). Thus, even though the ocean is vast and sometimes stormy, you can navigate with more confidence and avoid losing your treasure (your money).
