#write2earn๐๐น #JASMY $JASMY Good E$JASMY community. I bring good news. Don't be afraid about the downtrend recently made by $JASMY , it's still following the trend pattern. If you are a spot trader HODL, and if you are a futures trader, wait till the market is settled. I advice not to enter into it futures now as the market is unstable.
#write2earn๐๐น #ONG $ONG Good Morning everyone For those that short $ONG , I hope you have made some profit. I have already closed the position of mine. Well, profit is profit irrespective of the amount. Also learn risk management.
#write2earn๐๐น $SUI #SUI Good Afternoon $SUI community. Recently on X, saw this post. If this should occur, I hope this would make the $SUI to make an upward trend but the real question is when?
#write2earn๐๐น #JASMY $JASMY Dear $JASMY community. It came to my notice from one of my followers @Judelsa making reference to the 12hr time frame and think this helped a lot. I don't know the exact movement of the price of this coin $JASMY but from this chart it's forming a Bullish Symmetrical Triangle. So, if you are a spot trader, HODL tight while for futures traders, if you are in already, recommend you use a tight stop loss and at least should be 10% of your Portfolio, and if you are not in yet, wait for a confirmation on the next trend line.
#write2earn๐๐น $JASMY Should say spoke too soon or early. I just studied the pattern well. The price of $JASMY must break through the resistance line (I.e that yellow line) l Once it can break through it, then wait to confirm whether it's a fake breakout or not.
#write2earn๐๐น #JASMY $JASMY Good Morning Everyone. I have good news for you once again. It's about time we look into the coin named $JASMY You can see right here that the pattern it gave is a symmetrical triangle and it has broken the trend line and resistance line, which is also above the green line in the MA signalling a bullish trend. Well, now is the right time to enter using a tight stop loss because the market is unpredictable.
#write2earn๐๐น $SUI Good Evening Everyone. I bring good news once again for you and it's $SUI coin. You all know that #suibasecamp has began today and it's going to last till April 12. Now, looking at the chart, we could see a Rising Wedge ( or Ascending Channel), now is the time to long the trade.
If we also consider several factors , the RSI is in the oversold region and the buying trading volume is high, including the #suibasecamp that's being held again, but it's advisable to use a tight stop loss.
$SUI #Suibasecamp Good Morning Everyone , have a great news for you. It's about the coin . I know most people were complaining about the downtrend of this coin but here is the pattern trend of the coin. If you look at the analysis below, you could see a rising wedge pattern (which could either be #bullish or #bearish ). Currently , it has already hit the 1.5167 trend line. I am on the look out for an upward trend, if it turns otherwise and drops below the trend line (support line) the I wouldn't say it's bearish, we wait for a pull back , but for now, let's hope for an upward trend. This is an 8hr time frame.
I was shocked after spending hundreds of hours researching how alts respond to halves.
The $BTC halving will start in only three weeks, on April 19, 2024.
I was startled after spending hundreds of hours studying how alts respond to halves.
I'm going to remove this topic shortly because it will separate the losers from the millionaires this cycle ๐ต๐.
โฎ A lot of people are building massive portfolios, stockpiling alts, and anticipating sharp rise following the halving.
Some are selling because they think there will be a slump and stagnation following the halving.
Who is correct, then? Let's solve it together...
โฎ This will be the fourth halving ever, and it will happen on April 19th, which is not too far away.
You can see all of the halvings that have taken place in the image below.
We must examine the halvings in 2016 and 2020 in order to comprehend what will occur in 2024. ๐
However, before we get going...
Make sure to follow me as I will soon be making my profile private. I frequently give out 100x gems for free. @armcryptoarmy
1/ Let's begin with a quick review of the market capitalization of all cryptocurrencies between 2016 and 2024. I used a chart that included all altcoins except the top 10, and as of right now, things are as follows:
Let's now examine each halve in isolation ๐
2/โฎ 2016 halving Alts had a six-month decrease following the 2016 halving.
โง However, the major reason this occurred in 2016 was the lack of popularity of alts and the lack of interest in nearly all projects other than Bitcoin.
Only in 2017 did interest start to surface, which sparked rapid expansion.
3/ 2020 halving There were no outages in 2020, and alts kept growing almost all the way through 2022.
โง At that time, cryptocurrency was far more well-liked by normal people, which is why altcoins continued to rise consistently. Even when there were setbacks, they were only temporary.
4/โฎ 2024 halving โง We're already seeing a different picture this year since growth has started and appears to be happening ahead of schedule.
We won't see any downtime, considering the last two halvings where adjustments or sideways periods happened but were never extended.
5/โฎ Naturally, it's hard to forecast with precision, and a lot can change throughout the halved time. However, I believe that over the course of a year, there will be a slow but steady rise, given the 1.5-year timetable for the progressive reduction.
6/โจ It's crucial to take into account the BTC ETF's recent approval, which brought in a significant number of new investors and liquidity. โง More liquidity means less volatility.
โง Bitcoin is nearly a globally acknowledged currency.
All of these might lengthen the impending bull run.
7/โฎ Concluding: โง Given all that has been said so far, it seems improbable that there will be any abrupt changes in the market or a market freeze.
โง Given that the cycle has already begun, I believe we will increase gradually.
When first getting into crypto trading, it can be hard to know where to start. Technical analysis is generally seen as the cornerstone of crypto trading, and thus many new traders start there, learning everything there is to know about price action, and technical chart patterns. In that spirit, today's article covers our top 8 chart patterns to use in crypto trading, what they look like, and how they generally play out. Read on to learn everything there is to know about continuation and reversal patterns! What are chart patterns? Chart patterns are easily recognisable price structures that can be found across many different timeframes. There are two main categories of chart patterns; continuation patterns and reversal patterns. As the names suggest, continuation patterns are structures that suggest the current trend will continue, whereas reversal patterns suggest the current trend is coming to an end, and the trend will reverse. Chart patterns have been studied for decades, which gives us a lot of data about their reliability, and their use. Let's dive into different chart patterns that have stood the test of time. Head & shoulders pattern The first pattern on our list is known as the head & shoulders pattern. This pattern is a reversal pattern, where a larger peak (the head) is accompanied by two smaller peaks to either side of it (the shoulders). The pattern presents itself in bullish (regular) and bearish (inverse) forms; where the bullish head & shoulders is an upside-down variant of the head & shoulders, as can be seen in the example below.
Two smaller shoulders accompany a larger head. After the second shoulder is completed, a breakout to the upside can be expected. Traders generally use the distance between the top (or in the inverse pattern, bottom) of the head and the neckline to determine a target for this pattern. Double top and bottom pattern The double-top pattern is a common reversal pattern, that consists of two (roughly) equally sized peaks in close proximity. It shows buyer exhaustion, as the price fails to break a price level twice in a row. After the second peak forms, the price often breaks down and reverses into an opposite trend. The below chart on the left shows Bitcoin's peak at 69,000 USD. This was a perfect example of what a double top looks like โ two peaks that fail to push higher, followed by a break of the neckline, resulting in a bearish trend.
A double bottom pattern is exactly opposite of the double top, a bullish reversal pattern suggesting seller exhaustion, consisting of two (roughly) equally sized bottoms in close proximity. The above chart on the right shows an example of a double bottom, resulting in a move higher. Rounding top and bottom pattern The rounding top and bottom patterns are reversal patterns, that are very easy to identify. The chart below shows an example of a rounded bottom โ where a downtrend slowly weakens until it starts trending up again.
Traders generally start buying as the downtrend weakens, and will start adding to their positions when price starts trending up. Flag pattern Flag patterns are a continuation pattern, that signals a period of consolidation within a strong trend. They tend to be a perfect time to get into new positions, to take advantage of the trend. Generally speaking, an explosive move eventually slows down, and enters a brief consolidation, before resuming the trend. Flag patterns can be bullish and bearish, depending on the direction of the overarching trend. The below charts are examples of bullish (left) and bearish (right) flags.
Cup & handle pattern This bullish continuation pattern shows a period of "pause" before the overarching trend continues. The first part of the pattern (the cup) looks similar to a rounding bottom, while the second part appears similar to a bullish flag. After the cup is completely formed, the handle forms and the uptrend continues. The below chart shows an example of this in practice โ though ideally, the bottom is more rounded than the one in this example.
Wedge pattern Wedge formations are a type of reversal pattern that often forms when the price pushes into resistance or support. It consists of two trendlines - in a formation that tightens as the pattern progresses. There are two types of wedges; rising (bearish) and falling (bullish). The below charts are examples of the falling (left) and rising (right) wedge.
Wedges generally break out in the opposite direction of the wedge itself โ that is, a falling wedge generally breaks out to the upside, and a rising wedge generally breaks out to the downside. Generally speaking, the falling wedge is more common in a bullish market, and a rising wedge is more common in a bearish market. Ascending triangle pattern Ascending triangles are a bullish continuation pattern, that signals consolidation within a strong trend. They tend to be a good time to get into new positions, to take advantage of the trend. Generally speaking, an explosive move slows down, and enters a consolidation, where equal highs and a higher lows result into compression and eventually, expansion. The below chart is an example of an ascending triangle pattern, and the breakout that follows.
Descending triangle pattern Contrary to the ascending triangle, descending triangles are a bearish continuation pattern โ a consolidation within a strong trend. Descending triangles are generally a good time to take on new positions, to take advantage of the trend. Generally speaking, an explosive move slows down and enters a consolidation, where equal lows and lower highs result in compression and eventually, continuation lower. The below chart is an example of a descending triangle pattern and the breakdown that follows.
Closing thoughts All in all, chart patterns are powerful tools that help you spot reversals or continuations. Keep in mind that chart patterns are not foolproof, and may still resolve in another direction than the pattern would follow.
#educational #TradingAdvice
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