Opening the secrets of cryptocurrency: Identifying turning patterns to achieve better trading results
The world of cryptocurrency has exploded in recent years as prices rose rapidly and collapses in a matter of hours. While many merchants continue to learn ropes, one of the key success strategy is the translation models – or areas where the price is likely to turn the direction. In this article, we explore the world of technical analysis and explore how we recognize these important models.
What are the turning models?
The turning models are special price changes that indicate a possible change in the market direction. They can be identified by analyzing the relationship between price and speed indicators, as well as other technical signs such as chart forms and trend lines.
There are several types of turning patterns including:
- Rising turns : When the price begins to rise after the bill, it is often a sign that buyers have taken control.
- Growing twists : On the contrary, when the price drops after the rise, it may indicate sales pressure.
- The head and shoulders turn : a classic head model formed in the top or shoulders, indicating the approaching turning.
How to identify the turning patterns
To develop your skills to identify translation models, the following steps:
- Select your mapping platform
: Select a reliable tipping platform that provides accurate and up -to -date information.
- Explore technical indicators : Understand torque indicators such as RSI (relative strength index) MacD (moving average convergence differences) and bollinger lanes.
- Analyze diagram forms : Research diagram forms to identify possible turning patterns, including wedges, triangles and triangles with lower high.
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Techniques to identify the turning patterns
Here are some advanced techniques to help improve your skills:
- Use Fibonacci Retracement levels
: Use Fibonacci Retracement levels to identify possible turning points.
- Identify Candle Foot Patterns : Recognize candle foot patterns, such as Doji, Hammer and Shooting Star, anticipate prices.
- Search for overloaded/oversized conditions : Identify the market in the market for high or oversized conditions that may precede of turning.
Examples of real world
Examine some of the real world examples of successful merchants who have identified turning models:
* Mark Zuckerberg’s Facebook IPO (2012) : Mark Zuckerberg’s Facebook rose from $ 34 to $ 46.8 shares before turning and rising to $ 230.5.
* Tesla Share Record (2011-2014) : Tesla’s share price dropped from $ 200 to $ 33.7, then turned and rose to $ 246.2.
conclusion
Identifying turning models is a critical skill for merchants who want to succeed in the world of cryptocurrency. By mastering technical analysis and diagram reading techniques, you are better equipped to anticipate price shifts and make conscious trading decisions. Remember that training makes it perfect, so continue to grind your skills by analyzing the examples of the real world and cleaning your strategy.
tips for beginners
- Start with a solid background : Explore technical indicators and chart reading techniques.
- Practice in presentation accounts : Use demoti accounts to refine your trading skills without compromising real money.
- Stay patient and disciplined : turning models can be unpredictable, so it is necessary to maintain a long -term perspective.
With dedication and practice, you will be able to recognize the turning models and increase the potential of successful shops in the world of cryptocurrency.
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