๐ 1. Resistance / Support Conversion (Bearish Signal)
When a support line breaks and becomes a resistance, it signals that the price may drop further. Traders often interpret this as a bearish trend forming.
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๐ผ 2. Triangle (Upward Coil โ Bullish)
This pattern shows consolidation followed by a breakout. An upward coil usually suggests the bulls are preparing to push the price higher.
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๐ฝ 3. Triangle (Downward Coil โ Bearish)
Opposite of the upward coil, this one signals potential downward momentum, often confirming bearish pressure.
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๐ 4. Bollinger Bands
Bollinger Bands measure volatility. When the price moves outside the upper or lower band, it might be overbought or oversoldโa possible sign of reversal or trend continuation.
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๐บ 5. Wedge Patterns
Rising Wedge (Bearish): Signals a potential downward breakout.
Falling Wedge (Bullish): Indicates a bullish reversal may be coming.
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๐ฒ 6. Trendy Range (Box Pattern)
When price stays within a horizontal box, it suggests accumulation or distribution:
Bullish box breakout = potential uptrend
Bearish box breakdown = potential downtrend
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๐ฏ๏ธ Here is the candles image ๐
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โ Final Words:
Technical analysis doesnโt predict the futureโit helps you understand possibilities based on patterns and price action. Combine these insights with good risk management and your own strategy.
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