📊 #CryptoCharts101

Mastering Candlestick Patterns & Chart Basics

Reading crypto charts is a game-changer in trading. At the heart of chart analysis are candlestick patterns — visual representations of price action that help you predict market moves.

🕯️ What is a Candlestick?

Each candlestick shows the open, close, high, and low prices within a specific time frame (like 1 minute, 1 hour, or 1 day). The body tells you the price range between open and close, while the wicks show highs and lows.

🔍 Common Candlestick Patterns:

Bullish Engulfing: Signals a potential upward reversal.

Bearish Engulfing: Indicates a possible downward turn.

Doji: Shows market indecision — a possible reversal or pause.

Hammer & Hanging Man: Candles with small bodies and long wicks that can signal reversals.

📈 How Chart Reading Helps Me:

By spotting these patterns early, I can time my entries near support levels and set exits before a reversal, reducing losses and maximizing gains. It’s not foolproof but adds an important edge.

💡 Tip: Combine candlestick patterns with volume and other indicators for stronger signals.

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