Traders use various technical analysis tools to identify emerging trends and profitably trade that direction. One popular trend-defining pattern that traders often rely on is called the price channel. An ‘ascending channel’ or a “bullish price channel” is formed by drawing parallel lines between the perceived support and resistance levels that an asset trades between on … [Read more...] about Traders use this classic trading pattern to determine when to ‘buy the dip’
Classic
Pro traders know it’s time to range trade when this classic pattern shows up
A bull trend is formed when demand exceeds supply and a bear trend occurs when sellers overpower the buyers. When the bulls and bears hold their ground without budging, it results in the formation of a trading range.Sometimes, this leads to the formation of a rectangle pattern, which can also be described as a consolidation zone or a congestion zone. Bearish and bullish … [Read more...] about Pro traders know it’s time to range trade when this classic pattern shows up
Pro traders look for this classic pattern to spot Bitcoin price reversals
Every trader aims to buy low and sell high, but only a few are able to muster the courage to go against the herd and purchase when the downtrend reverses direction. When prices are falling, the sentiment is negative and fear is at extreme levels, but it's at times like these that the inverse head and shoulders (IHS) pattern can appear.The (IHS) pattern is similar in … [Read more...] about Pro traders look for this classic pattern to spot Bitcoin price reversals
Ethereum eyes rally to $3K with 39% ETH price rebound triggering a classic bullish pattern
The price of Ether (ETH) jumped to a three-week high on July 26, triggered by similar gains in the Bitcoin (BTC) market that appeared in the wake of rumors about Amazon's foray into the cryptocurrency sector.A job posting from the retail giant showed that it is seeking an executive to build its "digital currency and blockchain strategy." Meanwhile, global media reports … [Read more...] about Ethereum eyes rally to $3K with 39% ETH price rebound triggering a classic bullish pattern
Triple-digit gains make Dogecoin and Ethereum Classic the top performers of Q2
In early 2021 Bitcoin and Ether price was the center of attention as each asset seemed to hit a new all-time high every 24-hours and traders called for $100,000 BTC and $5,000 ETH. Fast forward to the present and both assets are still more than 40% down from their all-time highs and the bulls calling for unbelievable price targets are nowhere to be found. A recent report … [Read more...] about Triple-digit gains make Dogecoin and Ethereum Classic the top performers of Q2