#CryptoCharts101 ๐ Candlestick patterns helps one to better anticipate market moves. You can combine patterns with tools like Fibonacci. It can help you to spot trends, reversals, or breakouts.
Hereโs a quick guide!
๐Candlestick Basics: Each candle shows open, close, high, low. Bullish (green) = close > open; Bearish (red) = close < open.
Key Candlestick Patterns:
๐ข Hammer, Morning Star, Bullish Engulfing: Signal reversals up.
๐ด Shooting Star, Evening Star, Bearish Engulfing: Signal reversals down.
โ๏ธ Doji: Indecision, often before a big move.
Chart Patterns:
๐ Trends: Ascending/Descending Triangles, Flags = continuation.
๐ Reversals: Head & Shoulders, Double Top/Bottom = trend change.
๐ฅ Breakouts: Symmetrical Triangle, Rectangle, Cup & Handle = new trend.
Tips:
Confirm with volume & indicators (RSI, MA).
Higher timeframes = more reliable.
Watch for fake outs; use stop-losses.
Master these patterns to trade smarter! ๐ก