#CryptoCharts101 Candlestick patterns and chart formations are the heartbeat of technical analysis. They tell a story of price action, trader psychology, and potential moves ahead.
šÆļø Candlestick Patterns I Watch:
⢠Doji ā Signals indecision, often seen before a reversal.
⢠Hammer/Inverted Hammer ā Potential reversal signals, especially after a strong trend.
⢠Engulfing Pattern ā A strong sign of a possible trend reversal.
š Chart Patterns That Matter:
š¼ Trend Indicators:
⢠Higher highs & higher lows = Uptrend.
⢠Lower highs & lower lows = Downtrend.
š Reversal Patterns:
⢠Head & Shoulders ā Signals a top (reversal from bullish to bearish).
⢠Double Top/Bottom ā Classic reversal pattern after a strong move.
š„ Breakout Patterns:
⢠Ascending Triangle ā Bullish breakout potential.
⢠Descending Triangle ā Bearish breakout setup.
⢠Symmetrical Triangle ā Could break either way; watch for volume spikes.