If you are a beginner, you should know about bullish and bearish trends, especially if you trade on Binance. This is a fundamental concept for trading on Binance. If you understand this, you can easily earn $100 to $200 daily. This is essential for understanding the market, as it keeps going up and down. Read carefully.

Bearish Continuation Patterns

These patterns indicate that a downtrend is likely to continue after a consolidation phase. Here are the key bearish patterns:

1. Bearish Flag: A downward trend followed by a rectangular consolidation and a breakout to the downside.

2. Bearish Pennant: A smaller triangular consolidation after a sharp downtrend, usually followed by a further drop.

3. Bearish Rising Wedge: A narrowing upward price channel that breaks downward.

4. Descending Triangle: A horizontal support level and descending resistance lead to a breakdown.

5. Inverted Cup and Handle: A rounded top followed by a smaller consolidation before a drop.

Strategy for Bearish Patterns:

Short Entry: After the breakdown from the consolidation phase.

Stop Loss: Just above the resistance trendline or previous swing high.

Take Profit: Measure the height of the previous trend and project downward.

Bullish Continuation Patterns

These patterns suggest that an uptrend is set to resume after consolidation. Key bullish patterns include:

1. Bullish Flag: An upward trend followed by a rectangular consolidation and breakout upward.

2. Bullish Pennant: A small symmetrical triangle following a sharp rise, leading to another upward breakout.

3. Bullish Falling Wedge: A narrowing downward price channel breaking upward.

4. Right Angle Descending Wedge: A descending resistance trendline with a flat support level leading to an upward breakout.

5. Symmetrical Triangle: A triangle pattern with converging trendlines, leading to continuation upward.

6. Cup and Handle: A rounded bottom followed by a smaller consolidation and breakout upward.

7. J-Hook Pattern: A smooth upward curve signaling a continuation of the uptrend.

8. Scoop Pattern: A rounded dip in price followed by a sharp rise.

Strategy for Bullish Patterns:

Long Entry: After the breakout from consolidation.

Stop Loss: Below the support trendline or previous swing low.

Take Profit: Measure the height of the previous trend and project upward.

How to Earn $100 Daily on Binance

To leverage these patterns effectively:

1. Set Alerts: Use Binance's charting tools to set alerts for potential breakout points.

2. Risk Management: Risk only 1-2% of your portfolio per trade to protect your capital.

3. Practice Scalping: Look for these patterns on shorter timeframes (e.g., 5m, 15m) for quicker trades.

4. Use Leverage Carefully: If using leverage, ensure tight stop losses to minimize risk.

5. Backtest Strategies: Use Binance's demo account or tools like TradingView to test strategies on historical data.

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