If you're serious about crypto trading these 6 chart patterns can be your edge โ helping you spot ๐ง๐๐ซ๐๐ง๐จ๐๐ก predict breakouts and protect your capital. Let's break them down ๐
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1๏ธโฃ ๐๐๐ก๐ก๐๐ฃ๐ ๐๐๐๐๐ โฌ๏ธโก๏ธโฌ๏ธ (๐ฝ๐ช๐ก๐ก๐๐จ๐ ๐๐๐ซ๐๐ง๐จ๐๐ก)
Price squeezes lower into a wedge shape.
Once it breaks upward it usually signals the start of a bullish trend.
๐ฏ Target: The height of the wedge added to the breakout point.
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2๏ธโฃ ๐๐ฎ๐ข๐ข๐๐ฉ๐ง๐๐๐๐ก ๐๐ง๐๐๐ฃ๐๐ก๐ ๐บ (๐ฝ๐ช๐ก๐ก๐๐จ๐ ๐พ๐ค๐ฃ๐ฉ๐๐ฃ๐ช๐๐ฉ๐๐ค๐ฃ)
Price consolidates with equal sloping support/resistance.
A breakout in the direction of the existing uptrend often follows.
โ ๏ธ Combine with volume for stronger signals.
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3๏ธโฃ ๐ฟ๐ค๐ช๐๐ก๐ ๐ฝ๐ค๐ฉ๐ฉ๐ค๐ข ๐ (๐๐ง๐๐ฃ๐ ๐๐๐ซ๐๐ง๐จ๐๐ก)
Looks like a W โ two equal lows with a peak in between.
Once price breaks above the neckline bulls are in charge.
๐ฅ Bullish signal especially after a downtrend.
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4๏ธโฃ ๐๐๐จ๐๐ฃ๐ ๐๐๐๐๐ โฌ๏ธโก๏ธโฌ๏ธ (๐ฝ๐๐๐ง๐๐จ๐ ๐๐๐ซ๐๐ง๐จ๐๐ก)
Price climbs within a narrowing wedge.
A downward breakout is a red flag.
๐ Often seen before sharp drops โ take profits or hedge.
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5๏ธโฃ ๐๐ฎ๐ข๐ข๐๐ฉ๐ง๐๐๐๐ก ๐๐ง๐๐๐ฃ๐๐ก๐ ๐ป (๐ฝ๐๐๐ง๐๐จ๐ ๐พ๐ค๐ฃ๐ฉ๐๐ฃ๐ช๐๐ฉ๐๐ค๐ฃ)
Appears during a downtrend.
Price consolidates then usually breaks lower to continue the bearish move.
๐จ Watch for volume spike on breakout.
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6๏ธโฃ ๐ฟ๐ค๐ช๐๐ก๐ ๐๐ค๐ฅ ๐ป (๐๐ง๐๐ฃ๐ ๐๐๐ซ๐๐ง๐จ๐๐ก)
M shape with two equal highs.
Breakdown below neckline = confirmed bearish signal.
๐ซ Time to get cautious or consider short strategies.
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๐๐๐ฎ ๐ฟ๐ค ๐๐๐๐จ๐ ๐๐๐ฉ๐ฉ๐๐ง๐ฃ๐จ ๐๐๐ฉ๐ฉ๐๐ง?
โ Help you anticipate market moves
โ Improve entry & exit timing
โ Reduce emotional trades
โ Work best with volume confirmation
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๐ ๐พ๐๐๐ง๐ฉ ๐๐๐จ๐ช๐๐ก๐จ ๐๐๐ก๐ฅ ๐๐ค๐ค:
Here's the cheat sheet image ๐
If this helped you smash โค๏ธ and comment PATTERNS to unlock more trading wisdom!
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