I don't just watch the crypto patter but also the price, in fact, I'd often check it every day just to know where we are now. For me, it was very important to be aware of the situation, many got mess as they never check on it and usually missing the chance either to buy or sell. Some saying that looking at the chart makes them get worried especially when it dumps, I don't think that was an excuse because you could still feel that even you never do it.
if you are in crypto, you definitely have to do this otherwise.
Topic: Why do you watch crypto chart pattern - page 2. (Read 436 times)
Chart patterns is really a huge help to most traders on decision making, without this tool its pretty hard to just predict price movements. When I started my journey on trading, I suffered mostly losing money instead of earning because of lack of knowledge in charts, its your weapon to achieve success when it comes to trading no doubt its really useful.
Charting is important to atleast have a basis on how much the price can get low or high,trading is already hard and it can be worsen when we don't have a guide to look at. I already lose before since I just buy whenever I thin the price is low and sell when its high where in face I might get more profit if I do know how to do chart and analyze them. Ecery trader even anyone in crypto investing should know how to do and read charts for reference. 
Charts that have a definitive pattern like bitcoin's and ethereum's help me weigh my decision for when I am to invest and when I am to pull my investments out to save losses. Really that's the primary thing most investors here do with chart patterns for big coins like the one I mentioned above. Otherwise why would you look at a timeline chart of a coin with no real usability or price movement?
We observe the chart pattern of a cryptocurrency that we are thinking of making an investment into it or already invested into it. But this doesn't help us do the right things all the time of course. Because we must be aware that we are dealing with highly volatile currencies. Charts can mislead people a lot like they did a few days ago when the market fell a lot.
Well that too and thank you for putting this into light. Keep in mind that you don't have to use these chart patterns as a gold standard because as valuable as their information may be, these are all just predictions that could go south if things went awry. So do your own research, but make sure that you do your own judgment as well. A lot of people often forget the latter, which costs them hundreds, if not thousands of dollars in losses. 
Chart patterns is really a huge help to most traders on decision making, without this tool its pretty hard to just predict price movements. When I started my journey on trading, I suffered mostly losing money instead of earning because of lack of knowledge in charts, its your weapon to achieve success when it comes to trading no doubt its really useful.
We observe the chart pattern of a cryptocurrency that we are thinking of making an investment into it or already invested into it. But this doesn't help us do the right things all the time of course. Because we must be aware that we are dealing with highly volatile currencies. Charts can mislead people a lot like they did a few days ago when the market fell a lot.
After their spring plunge and summer rebound, cryptocurrencies like Bitcoin and Ethereum have been in a holding pattern for the past few weeks as investors try to decipher their next big move. Interestingly, these patterns appear to be technical patterns such as pennants and flags, which indicate a high likelihood of important moves ahead once cryptos break out from them.
After reaching a high of roughly $65,000 in April, Bitcoin then tested its $30,000 support level, and has since rebounded to just under $50,000. Bitcoin has been forming a pennant pattern in recent weeks, which indicates that another important move will occur once the cryptocurrency breaks out one way or another. A convincing break to the upside increases the chances of a re-test of the prior highs in April, while a bearish breakdown would increase the chances of a re-test of the $30,000 support level.
https://www.forbes.com/sites/jessecolombo/2021/08/31/why-you-should-watch-these-crypto-chart-patterns/?sh=2b47978de5c5
We all know what is coming, the price is about to go up very rapidly at the end of the year, now I would not be surprised if before that we saw an important decrease as the whales try one more time to get weak hands to sell their coins, and to make the price to go down significantly when everyone is expecting it to go up is the perfect way to achieve this, but once that is out of the way the price of bitcoin will grow at an amazing speed and at that time the only thing we need to do is to relax and enjoy the ride and see where the limits of this bull run really are.After reaching a high of roughly $65,000 in April, Bitcoin then tested its $30,000 support level, and has since rebounded to just under $50,000. Bitcoin has been forming a pennant pattern in recent weeks, which indicates that another important move will occur once the cryptocurrency breaks out one way or another. A convincing break to the upside increases the chances of a re-test of the prior highs in April, while a bearish breakdown would increase the chances of a re-test of the $30,000 support level.
https://www.forbes.com/sites/jessecolombo/2021/08/31/why-you-should-watch-these-crypto-chart-patterns/?sh=2b47978de5c5
whales that would really be taking those shake off on the time that they are seeing that the market tends to be shake off for them to enter on more cheaper price before a reversal would happen.
People do really love to watch out patterns and it is somewhat relevant compared on making out decisions without any basis.
It seems that bitcoin is becoming correlated again with the stock indicies. You can clearly see whenever the stock market has a sell-off so does bitcoin. So you need to consider this. Generally in the stock market, Sept is usually a bearish or sideways month. So bitcoin is generally trading neutral in September. If you look at all the years since bitcoins creation you will see that Sept is not a "very bullish" month, its mostly a doji or small candlestick.
The months which are important are going to be Oct-Nov. Usually that is when Bitcoin has a great month. And there is speculation that during the Summer, alot of companies put bitcoin on their balance shit and these earnings will be coming out at around the same time. So if BTC is to make a new ATH, it will most likely either be in those months. If it doesn't then most likely it'll trade sideways for the next 6 months or so.
The months which are important are going to be Oct-Nov. Usually that is when Bitcoin has a great month. And there is speculation that during the Summer, alot of companies put bitcoin on their balance shit and these earnings will be coming out at around the same time. So if BTC is to make a new ATH, it will most likely either be in those months. If it doesn't then most likely it'll trade sideways for the next 6 months or so.
After their spring plunge and summer rebound, cryptocurrencies like Bitcoin and Ethereum have been in a holding pattern for the past few weeks as investors try to decipher their next big move. Interestingly, these patterns appear to be technical patterns such as pennants and flags, which indicate a high likelihood of important moves ahead once cryptos break out from them.
After reaching a high of roughly $65,000 in April, Bitcoin then tested its $30,000 support level, and has since rebounded to just under $50,000. Bitcoin has been forming a pennant pattern in recent weeks, which indicates that another important move will occur once the cryptocurrency breaks out one way or another. A convincing break to the upside increases the chances of a re-test of the prior highs in April, while a bearish breakdown would increase the chances of a re-test of the $30,000 support level.
https://www.forbes.com/sites/jessecolombo/2021/08/31/why-you-should-watch-these-crypto-chart-patterns/?sh=2b47978de5c5
We all know what is coming, the price is about to go up very rapidly at the end of the year, now I would not be surprised if before that we saw an important decrease as the whales try one more time to get weak hands to sell their coins, and to make the price to go down significantly when everyone is expecting it to go up is the perfect way to achieve this, but once that is out of the way the price of bitcoin will grow at an amazing speed and at that time the only thing we need to do is to relax and enjoy the ride and see where the limits of this bull run really are. After reaching a high of roughly $65,000 in April, Bitcoin then tested its $30,000 support level, and has since rebounded to just under $50,000. Bitcoin has been forming a pennant pattern in recent weeks, which indicates that another important move will occur once the cryptocurrency breaks out one way or another. A convincing break to the upside increases the chances of a re-test of the prior highs in April, while a bearish breakdown would increase the chances of a re-test of the $30,000 support level.
https://www.forbes.com/sites/jessecolombo/2021/08/31/why-you-should-watch-these-crypto-chart-patterns/?sh=2b47978de5c5
And with paying more attention to crypto chart patterns.. we will feel closer to crypto every day and can conclude/consider various issues circulating due to differences in predictions, which sometimes are not certain the truth. In addition, it can help us in choosing the right coins to pick.
I do not give a damn about these charts, all you can do is comparing and come up with your own prediction as it does not mean anything. The market is not moving along with the charts as you claim. If everyone is able to predict the market by using the charts then no one would be having any losses when there is a correction and there would be experts predicting every move. If you can find one who could predict the market with charts i would accept these are facts 
. To see if the movement can be compared to the movement from the past and to see if there's a consistent similarity between the two or if not similarities, probably the differences. I think that's the only reason for me to watch the crypto patterns.
And with paying more attention to crypto chart patterns.. we will feel closer to crypto every day and can conclude/consider various issues circulating due to differences in predictions, which sometimes are not certain the truth. In addition, it can help us in choosing the right coins to pick.
Taking a close look at the crypto currency chart pattern will give one an idea of where next will be the movement of the market so that you will the trading decision to take. S advisable for one to do so since that is the only to make an informed trading decision. History of the chart 📈📉 do repeat it self most time in the crypto currency market and that is why people do watch past and present chart pattern before taking a decision.
To see if the movement can be compared to the movement from the past and to see if there's a consistent similarity between the two or if not similarities, probably the differences. I think that's the only reason for me to watch the crypto patterns.
I do not often watch crypto chart patterns, but if I do that, I want to know where the pattern will go so I can make many strategies for anything that can happen later. Watching the pattern is part of the analysis and I think most traders do that to see where the price will go. But they will have their own analysis because we watch the pattern and have a different perception of what will happen to bitcoin or altcoin in the next hours. Watching the pattern is like predicting the situation on the market but there are other things that you should do to know or predict the price moves.
I don't know of a trader that doesn't make the use of chart. It is more important than some indicators, and some traders consider it as a powerful indicator which I think it is too. Charts are simply the technical ways to know and monitor price action and movement, a fundamental analysis trader also will follow charts to speculate the next price level. For a day trader, using the chart is helpful more than a scalper. Using a longer time for chart analysis is result oriented.
Or trader could call it a friend, so obviously, we watch chart patterns because we wanted to predict what and where will be the next price movement. So it has an advantage, nevertheless, TA is not exact, it has flaw as well. And that's why we love it, its a big challenge for us to find the pattern and definitely will leverage our trades base on how we read and hopefully we are right in validating the patterns, thus making profits for trader.
It's simple, to try and predict what's going to come next because no matter how much we deny that there's no pattern, there's a certain movement that the market always follows.
I don't know of a trader that doesn't make the use of chart. It is more important than some indicators, and some traders consider it as a powerful indicator which I think it is too. Charts are simply the technical ways to know and monitor price action and movement, a fundamental analysis trader also will follow charts to speculate the next price level. For a day trader, using the chart is helpful more than a scalper. Using a longer time for chart analysis is result oriented.
When we study Stock-to-Flow Model for previous years we find some suspicious points have already happened:
if things happened as in the past, we are ready to break the level of $ 100,000 before the end of December to end this cycle by the end of correction of -60% to -80%
https://www.tradingview.com/chart/BTCUSD/ZORFqD06-Bitcoin-4y-halving-cycles-and-the-S2F-model/
- The most prominent technical step occurred for the Bitcoin price was by the end of 2020, with old ATH broken at $ 13,000 (psychological summit for the previous cycle)
- The previous cycle ended and a new cycle has not been tested any price lower than 20k old ATH
- There was a rebound in the middle of the cycle at -60% to -20%, which was already happen when the price dropped from 64k to 29k.
if things happened as in the past, we are ready to break the level of $ 100,000 before the end of December to end this cycle by the end of correction of -60% to -80%
Whatever happens on the chart turns out to be historical data which can be used in the future for so many purposes, for example
- charts can be used to predict the move of the market, that Is whether to anticipate a bullish or bearish market
- charts give us a picture of what's really happeningin the market such as manipulation detection.
- charts allow us to apply price action strategies and allow us to pick the best points to set our take profit targets
Because from this pattern we can analyze what will happen, although sometimes the guesses we make are wrong but indirectly the pattern can help many people to make decisions.
Charts pattern helps in trading. When i started trading, i used only fundamental analysis which sometimes does not work well.
If you are a day trader or even a swing trader, charts pattern will assist you find the entry and exit points. Also not that no one can become perfect even after having all the charts knowledge. The more experience you have, the better you can read the patterns.
Chart patterns are supposed to guide us on what may happen next. It is just a guide on our speculation or prediction. Of course it may or may not happen but it is there to somehow make prediction and speculation easily and provides basis for it.
But the thing is one could come up with so many patterns in a chart. You zoom the chart in and out and you could also make so many patterns out of it every time. At the end of the day, all the possibilities are still open.
But the thing is one could come up with so many patterns in a chart. You zoom the chart in and out and you could also make so many patterns out of it every time. At the end of the day, all the possibilities are still open.
Jump to: