You may have come across terms thrown about in the crypto space, such as “head and shoulders,” “rising wedges,'' and “cup and handle.” These are used by traders when analyzing crypto chart patterns. In this guide, we will explain how to read bitcoin charts and highlight popular crypto chart patterns you should know.
What is Chart Analysis?
To determine whether to take a long or short position when trading bitcoin, you can use charts that provide you with timely insights. Technical analysis can help traders to assess price trends and crypto chart patterns to spot trading opportunities.
Technical analysis involves the analysis of past trading activity and price fluctuations of an asset, which can help to predict future price movements to some degree. Technical analysis uses patterns in price information to identify trends and make predictions.
Bitcoin chart analysis is important in the sense that traders can interpret charts to better understand herd mentality. Bullish and bearish...
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