#BTC experienced a significant drop surpassing the support zone of 114k with a spike; however, the price bounced back and is recovering ground. we must be cautious$BTC $SOL
🔴 The market starts in red. #Bitcoin drops 2.56% and is trading at USD 115,366, leaving a candle with a wick that, upon reaching a point lower than the previous candle, begins to draw a mini bearish trend, which could lead it to retrace to its previous ATH.
📉 #ETH retreats -4.82% to USD 3,643, marking the start of a lateral movement between the zone of USD 3,900 and USD 3,500.
🔻 The biggest drops are led by #HYPE (-9.94%), #SUI (-9.76%) and #HBAR (-9.85%), followed by #ADA and #SOL with declines exceeding 6%.
In my opinion, it is a correction. What do you all think?$BTC $SOL $ETH
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📊The most common chart patterns used in cryptocurrency trading, with a simple explanation of what they mean and how to interpret them:
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📈 CONTINUATION PATTERNS (the price usually continues in the same direction)
1. Flag
🔺 Bullish: the price rises sharply, then drops a bit in a channel, and then continues rising.
🔻 Bearish: the price drops sharply, then rises a bit in a channel, and continues dropping.
📌 It looks like a flag after a pole.
2. Triangle (Symmetrical, Ascending, or Descending)
🔺 Symmetrical triangle: the price moves with less and less strength, but when it breaks, it usually continues the previous trend.
🔼 Ascending: suggests a breakout upward.
🔽 Descending: suggests a breakout downward.
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🔄 TREND REVERSAL PATTERNS
3. Double Top (M or double peak)
📉 Occurs when the price rises to the same level twice and cannot break it. Then it falls.
❗ Signal of a change from bullish to bearish.
4. Double Bottom (W or double valley)
📈 The price drops to the same level twice and does not fall further. Then it rises.
✅ Signal of a change from bearish to bullish.
5. Head and Shoulders (H&S)
🧍 Looks like a figure with three peaks: one large (the head) between two smaller ones (the shoulders).
📉 It’s a signal of a change from bullish to bearish.
6. Inverted Head and Shoulders
🤸 The opposite of the previous one.
📈 Signal of a change from bearish to bullish.
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📌 PRACTICAL TIPS as a note also study other values: confirm with volume or indicators (RSI, MACD). I have already left you in previous posts what RSI is and the order book, missing the MACD. I will upload it later.
The patterns work better on larger time frames (1H, 4H, daily).
Not all patterns are fulfilled, but they help make decisions with a higher probability of achieving good results; apply them to stable coins. @Saldaña_ #Binance #estuding
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📉 What is happening today in cryptocurrencies ‼️ trade with great caution
Today, as it is July 4th, an important holiday in the US, many traders and institutions are not trading. This leads to fewer people buying and selling cryptocurrencies.
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🧃 What is "liquidity"?
Liquidity is how easily you can:
Sell a cryptocurrency without losing money.
Buy without the price rising too much.
With high liquidity:
There are many buyers and sellers.
Trades happen quickly and at the expected price.
With low liquidity (like today):
There are few people trading.
Your orders may take longer to execute.
The price can move a lot with large trades.
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🧠 A very simple example:
Think about going to the market to sell mangoes:
If there are many people in the market, you sell them quickly at the fair price.
If there are few people, maybe no one buys them... or you have to drop the price a lot.
The same thing is happening today with Bitcoin and other cryptos: there are fewer buyers, so prices can move more easily.