HIGHEST WINNING PERCENTAGE WHEN YOU IDENTIFY THESE CRYPTO PATTERNS!
THE MORNING STAR YOU NEED TO CHECK BEFORE IT PUMPS!
There are many crypto enthusiasts anticipating their favorite altcoin to have a major boost. Albeit, only a few of them would analyze the overall technical, fundamental and sentimental factors surrounding their favorite alts.
This is where the tough challenge starts for every trader.
There is no exception. Everyone who is in the market have this tough challenge. Although, the real challenge isn't how you identify where it would pump. It is how you will 'react' when it reaches the certain price you and your altcoin have been waiting for.
There are no magic in the cryptocurrency market. You have to analyze everything yourself. Let me give you an example. This 1 particular token has already been trading closely to the morning star it has created. It signifies that a possible bullish reversal will soon happen, a really huge one. If you have already identified this token, congratulations. You just found a gem.
Now, what does this morning star really mean aside from being just a signal for a reversal point?
This morning star isn't just some symbol or an insignificant logo in the market. Instead, it will show you the sentiments of buyers and sellers in that certain price. Morning star was formed? Buyers and sellers fought in a long time in that price level. Who won? Buyers devoured the entirety of selling pressure. How do you know this? It's simple. The price didn't go down beyond that level. Now, it's up to you to research the fundamentals of the token I'm talking about.
ONCE YOU SPOT THESE SIMPLE FORMATIONS (YOU'RE IN FOR A RIDE!)
There are many traders who have noticed these but couldn't explain what these formations really mean.
I'll help you learn it in easy manner.
Formations of these kind have a reasoning/logic behind them. The candlestick movement from the very bottom that you can see are divergences formed when buyers meet sellers at the bottom. Once you've found yourself identifying formations like this. Check the following. Has this token been sitting on this level for a long time? If they have been, that means it keeps on failing to swing lower than its current price and tendency is it will swing higher instead for it to test resistances. Always remember, for every time a token hits a support and it keeps bouncing. Will also have a corresponding number of possible testing of resistances until it breaks through. That's why these formations will be a great help to achieving the satisfactory breakout that everyone is looking for.
Stay wise, trade cautiously.