#BreakoutTradingStrategy
๐๐ Breakout Trading Strategy
๐ What is a Breakout?
A breakout happens when the price of a cryptocurrency moves outside a defined range, such as:
๐ผ Above resistance = Bullish breakout ๐
๐ฝ Below support = Bearish breakout ๐
๐ ๏ธ How It Works
1. ๐ Identify a Range (Consolidation Zone)
Look for patterns like:
๐บ Ascending/Descending Triangle
๐ฉ Flags & Pennants
๐ฒ Rectangles
๐ช Wedges
2. ๐ Mark Key Levels
๐ฉ Support = Price floor
๐ฅ Resistance = Price ceiling
3. ๐ Watch for a Break + Volume Confirmation