#BTC Candlestick Pattern Analysis:
✨Fakey Pattern:
A fakey is a false reversal pattern that typically occurs when price breaks out of a continuation pattern but then turns around and breaks out in the opposite direction.
This often gets many investors stuck. This pattern appears in all three positions on the chart I marked, showing a strong change in trend.
✨Battery Bar:
The Pin Bar is a strong reversal candlestick pattern, with long wicks indicating price rejection at that level.
This pattern appears during the sideway or peak & bottom phase of a price cycle, signaling a strong trend change afterward.
⭐Trading Strategy:
Wait for Confirmation: Always wait for a 3rd or 4th candle to confirm the trend before entering a trade to reduce the risk of getting stuck in a false signal.
⭐Time Frame: Identify the main trend on the D1 time frame, then switch to the H4 or H1 frame to find the optimal entry point.
⭐Reduce Leverage: Use moderate leverage from x5 to x10 when trading BTC to avoid account liquidation when the market has strong swings.
Leverage that is too high like x10 - x50 can cause great risks, especially in highly volatile price zones.
🎉Trade Small But Effectively: Focus on holding long-term orders following the main trend instead of opening many small short-term orders. This helps maximize profits from big waves.
🔥The above notes will hopefully help you better understand how to apply candlestick patterns and effective trading strategies in the crypto market.
🤑Wish you successful trading!
