Only a select few are aware of cryptocurrency, and they are profiting from it!
To have a better grasp of a token's price motion, it is crucial to formulate potential candlestick formations before they develop. This gives a trader the opportunity to get even more ready for the potential outcome. A trader can hold more positions in the market in this fashion. Finding the critical levels where the majority of the candlesticks cluster, whether at support or resistance, is the first step in doing a candlestick formation reading. Next, as it is essential to the candlesticks' anticipation, comprehend the cause of this cluster development. Increasing demand or the loading of supplies are the main causes of the creation. You can therefore determine the high and low price once the candlesticks for each timeframe are generated for the day. In a timeframe of minutes or hours, the majority of candlesticks can form with two to three bearish candlesticks and more bullish ones if they are near their support, and vice versa if they are near their resistance. In order to take advantage of the imbalances between the highs and lows of the daily trading range, you can anticipate the formation of one or more bearish candlesticks as the candlesticks close since the bullish candlesticks have formed consecutively. You can continue examining different candlestick formations over the same or different timeframes; this is merely an example.
Regardless of the phase, moods, or other elements, there is one secret that everyone must grasp in order to completely comprehend the market.
Few people are aware of this fact; most whales wait for altcoin development to be complete before launching another significant Bitcoin rally. Here's an example for you. With a confirmation of an inverted head and shoulders pattern, tokens A and B are presently declining. At the same time, Tokens C and D are in their unconfirmed inverse head and shoulders pattern, with the right shoulder still on the way and the left shoulder and head already generated. Whales will continue to watch and wait patiently while the price of Bitcoin fluctuates, whether it be on an hourly, daily, or other timescale. Whales will process a position in Bitcoin with the goal of making a big move for it once the inverted head and shoulders pattern of Tokens C and D has formed. In this case, since the altcoins have formed an inverse head and shoulders pattern, it would be a long position for a rally to occur. There are more scenarios as well; if you have observed one, please share your experience.
These posts are for educational purposes. To guide the people who might still be struggling within the crypto market, those who are new to the environment and volatility and everyone else who needs it.
Stay wise, trade cautiously.