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ETH/USD 1DAY UPDATE BY CRYPTO SANDERS !!Hello, welcome to this ETHEREUM /USD update by CRYPTO SANDERS. CHART ANALYSIS:-Ethereum (ETH) Ethereum (ETH) also surged on Saturday, as it climbed to its highest mark in the last four months. ETH/USD hit a high of $1,674.18 earlier in the day, which comes following a bottom of $1,550.03 on Friday. As a result of the move, ethereum recaptured a high not seen since September 13, which is the last time it traded over $1,700. Although prices are currently below this threshold, the resurgence of bullish momentum on Saturday could lead to further surges this weekend. The surge has pushed the 10-day (red) moving average back into an uptrend, extending its distance from its 25-day (blue) counterpart. Overall, ethereum is up 6.28% as of writing. I have tried to bring the best possible outcome to this chart. Hit the like button if you like it and share your charts in the comments section. Thank you
BITSTAMP:ETHUSD
by CryptoSanders9563
2
BTC/USD 1DAY UPDATE BY CRYPTO SANDERS !!Hello, welcome to this BITCOIN /USD update by CRYPTO SANDERS. CHART ANALYSIS:-Bitcoin ( BTC ) raced past the $23,000 level to start the weekend, with prices climbing to a multi-month high. Following a low of $20,961.21 on Friday, BTC/USD climbed to an intraday peak of $23,249.89 earlier today. Today’s rally saw bitcoin jump to its highest level since August 24, when the price at the time was trading at a top of $23,600. As can be seen from the chart, the move comes as the 14-day relative strength index (RSI) moved back toward a ceiling of 90.00. Currently, the index is at the 86.30 level, with earlier gains somewhat fading, as traders move to secure profits. As of writing, BTC is trading at $22,902.03, which is still roughly 9.27% higher than yesterday’s low. I have tried to bring the best possible outcome to this chart. Hit the like button if you like it and share your charts in the comments section. Thank you
BITSTAMP:BTCUSD
by CryptoSanders9563
2
ETH/USD 1DAY UPDATE BY CRYPTO SANDERS !!Hello, welcome to this ETHEREUM/USD update by CRYPTO SANDERS. CHART ANALYSIS:-Ethereum (ETH) also rebounded during today’s session, with prices continuing to move away from a recent floor. Following a low of $1,515.79 on Thursday, ETH/USD raced to a peak of $1,559.55 earlier in the day. Today’s surge comes as ethereum continues to move away from a recent support point at the $1,500 level. Similar to BTC, the move comes following a dead cat bounce on the RSI indicator, with price strength rebounding from a recent low. Currently, the index is tracking at a level of 74.64, which is marginally higher than the aforementioned floor at 70.00. ETH bulls will likely now be targeting a resistance level at the $1,600 level. I have tried to bring the best possible outcome to this chart. Hit the like button if you like it and share your charts in the comments section. Thank you
BITSTAMP:ETHUSD
by CryptoSanders9563
4
BTC/USD 1DAY UPDATE BY CRYPTO SANDERS !!Hello, welcome to this BITCOIN/USD update by CRYPTO SANDERS. CHART ANALYSIS:-Bitcoin ( BTC ) climbed higher on Friday, as the world’s largest cryptocurrency rebounded from Thursday’s losses. The rally comes despite the news that crypto lender Genesis has filed for bankruptcy, following the likes of FTX. BTC/USD rose to an intraday high of $21,175.24 earlier in today’s session, which comes from a low of $20,689.88 on Thursday. Looking at the chart, today’s rebound in price came as the 14-day relative strength index (RSI) moved back above the 80.00 mark. As of writing, the index is at the 80.40 level, with the next visible resistance level at the 88.00 zone. Many expect that BTC could make another attempt to break out of a key resistance point at $21,400. I have tried to bring the best possible outcome to this chart. Hit the like button if you like it and share your charts in the comments section. Thank you
BITSTAMP:BTCUSD
by CryptoSanders9563
BTC/USDT 4HOUR UPDATEHello and welcome to this BTC /USDT chart update by Crypto Sanders. I have tried to bring the best possible result in this chart. Chart Analysis:-Bitcoin is again testing the resistance area. The bulls keep pushing the price. There is a small uptrend line that works as support. The overall market is looking good. Trade with stop loss. This is not a piece of financial advice. Hit the like button if you like it and share your chart in the comment section. Thank you.
Long
by CryptoSanders9563
BTC/USDT 2DAY UPDATE BY CRYPTO SANDERS !!Hello and welcome to this BTC /USDT chart update by Crypto Sanders. I have tried to bring the best possible result in this chart. Chart Analysis:-BTC is attempting to break the key $21500 resistance. It is making it weaker with every attempt. It is now trading in a tight range between $20400 to $21400. The MACD crossover is showing bullishness, and the Hash Ribbon has also given a buy signal after a long capitulation. MA is broken after 100 times. All these confluences are showing that the bulls are back. We need to wait for a solid breakout of the long descending trend line to confirm the strong bullish trend in the market. This is not a piece of financial advice. Hit the like button if you like it and share your chart in the comment section. Thank you
Long
by CryptoSanders9563
DOGE/USD 1DAY UPDATE BY CRYPTO SANDERS !!Hello, welcome to this DOGE/USD 1DAY chart update by CRYPTO SANDERS. I have tried to bring the best possible outcome to this chart. CHART ANALYSIS:-Dogecoin (DOGE) also declined on Thursday, with prices falling for a fifth straight day. Since rising to a one-month high on Saturday, the meme coin has moved lower in consecutive sessions. Today’s low saw DOGE/USD slip to a bottom of $0.08013, which is nearly 8% lower than Wednesday’s peak. Looking at the chart, the drop saw DOGE near a key support point at $0.08000, with bulls so far resisting a breakout. The recent decline has pushed price strength significantly lower, moving from a reading above 70.00 on Saturday, to 52.35 as of writing. The 50.00 mark on the RSI indicator seems to be a sustainable support point, however, should this fail to hold, DOGE bears will likely intensify downward pressure. This is not a piece of financial advice. Hit the like button if you like it and share your charts in the comments section. Thank you
COINBASE:DOGEUSDLong
by CryptoSanders9563
2
SHIB/USD 1DAY UPDATE BY CRYPTO SANDERS !!Hello, welcome to this SHIB/USDT 1DAY chart update by CRYPTO SANDERS. I have tried to bring the best possible outcome to this chart. CHART ANALYSIS:-Shiba Inu (SHIB), which was one of Wednesday’s biggest gainers, climbing by as much as 17%, fell by over 10% today. Following a high of $0.00001295 in yesterday’s session, SHIB/USD dropped to an intraday low of $0.00001097 earlier today. Thursday’s drop came as the meme coin was unable to cross a long-term resistance level at $0.00001300. Despite the relatively large drop in price, the 14-day relative strength index (RSI) is still deeply overbought. As of writing, the index is tracking at a level of 80.22, which is close to a ceiling at the 82.00 mark. SHIB has somewhat rebounded from earlier declines and is currently trading at $0.00001114. This is not a piece of financial advice. Hit the like button if you like it and share your charts in the comments section. Thank you
COINBASE:SHIBUSDLong
by CryptoSanders9563
2
ETH/USD 1DAY UPDATE BY CRYPTO SANDERS !!Hello, welcome to this ETH /USD 1DAY chart update by CRYPTOSANDERS. I have tried to bring the best possible outcome to this chart. CHART ANALYSIS:-Ethereum (ETH), which rose above $1,600 on Wednesday, was also in the red in today’s session, falling towards a five-day low. Following a high of $1,602.11 on hump day, ETH/USD dropped to a bottom of $1,509.42 earlier today. As a result of the move, ETH fell to its lowest point since Saturday, when prices hit a floor of $1,449. From the chart, ETH’s price strength has also hit a support level, with the RSI currently hovering close to a floor of 70.00. Should momentum continue to trend downwards, the next signal will be that of the 10-day (red) moving average, which for now remains upward-facing. Providing this occurs, ethereum sellers will likely be targeting a move near the $1,350 mark. This is not a piece of financial advice. Hit the like button if you like it and share your charts in the comments section. Thank you
BITSTAMP:ETHUSD
by CryptoSanders9563
3
BTC/USD 1DAY UPDATE BY CRYPTO SANDERS !!Hello, welcome to this BTC /USD 1DAY chart update by CRYPTO SANDERS. I have tried to bring the best possible outcome to this chart. CHART ANALYSIS:-Bitcoin (BTC) dropped below the $21,000 mark on Thursday, as crypto markets fell following slowing U.S. retail sales figures. The decline saw BTC/USD hit an intraday low of $20,541.54 earlier in today’s session, fresh from a four-month high of $21,564.50. Since the sell-off, BTC now seems to be in search of a support point, with the $20,500 mark a likely candidate. Looking at the chart, a drop was somewhat expected with the 14-day relative strength index (RSI) tracking near a two-year high in recent days. As of writing, the index is at the 78.40 level, which is marginally above a floor at the 77.00 mark. Should a move below this point take place, it is likely that BTC bears could push prices toward the $20,000 zone. This is not a piece of financial advice. Hit the like button if you like it and share your charts in the comments section. Thank you
BITSTAMP:BTCUSD
by CryptoSanders9563
XRP/USDT 4Hr UPDATE !!Hello, welcome to this XRP/USDT chart update by CRYPTO SANDERS. I have tried to bring the best possible outcome to this chart. CHART ANALYSIS:-the 4-hour timeframe, the price formed an ascending price channel pattern, and after being supported by the lower trendline, it started moving upward. However, the $0.4 resistance level has paused the rally for now, resulting in short-term price consolidation. If the cryptocurrency surpasses the $0.4 level, the channel’s middle trendline and the $0.5 levels will be the next obstacles to surpass. On the other hand, if the $0.4 level rejects the price, the channel’s lower boundary will be the next significant support level. This is not a piece of financial advice. Hit the like button if you like it and share your charts in the comments section. Thank you
by CryptoSanders9563
BTC/USDT 4HOUR UPDATE !!Hello and welcome to this BTC /USDT chart update by Crypto Sanders. I have tried to bring the best possible result in this chart. Chart Analysis:-the 4-hour timeframe, it is evident that the price has fully recovered from the FTX crash and reached its prior major daily pivot at $21.5K. Major pivots are crucial levels in classic price action patterns, and moving above them could be a bullish sign of an uptrend. Meanwhile, the price has formed a double-top reversal pattern, a well-known bearish signal, and if it gets rejected, a leg down will be possible. Hence, considering the importance of this region, the upcoming price action should decide Bitcoin’s path in the mid-term. This is not a piece of financial advice. Hit the like button if you like it and share your chart in the comment section. Thank you
Long
by CryptoSanders9563
ETH/USD 1DAY UPDATE BY CRYPTO SANDERS !!Hello, welcome to this ETH /USD 1DAY chart update by CRYPTOSANDERS. I have tried to bring the best possible outcome to this chart. CHART ANALYSIS:-Ethereum (ETH) also retreated from recent highs, which comes after a failed breakout of its own. ETH/USD dropped to a low of $1,529.79 earlier today, after trading as high as $1,579.48 on Sunday. Ethereum failed to climb above the $1,580 high range, which led to a resurgence of some bearish sentiment. there was a lot of buying seen in the Ethereum price, with the index at its highest point since January 2021. Now tracking at 83.46, the next visible floor seems to be at the 70.00 mark, which could see ETH trading near $1,475 if hit. This is not a piece of financial advice. Hit the like button if you like it and share your charts in the comments section. Thank you
BITSTAMP:ETHUSD
by CryptoSanders9563
BTC/USD 1DAY UPDATE BY CRYPTO SANDERS !!Hello, welcome to this BTC /USD 1DAY chart update by CRYPTO SANDERS. I have tried to bring the best possible outcome to this chart. CHART ANALYSIS:- Bitcoin (BTC) rose back above the $21,000 mark on Tuesday, as markets reacted to the latest GDP figures from China. Figures from the world’s second-largest economy showed that gross domestic product rose by 3% last year, higher than the 2.8% expected. As a result of this, BTC/USD rose to a high of $21,360.87 earlier in the day, less than 24 hours after falling to a bottom at $20,715.75. Looking at the chart, today’s rebound in price has pushed bitcoin closer to its long-term resistance level of $21,400. This ceiling has been in place for the past two months and was marginally broken over the weekend. The 14-day relative strength index (RSI) continues to hover close to a ceiling of 90.00, and should BTC bulls intend to climb above $21,400, this ceiling on the RSI must first be broken. This is not a piece of financial advice. Hit the like button if you like it and share your charts in the comments section. Thank you
BITSTAMP:BTCUSD
by CryptoSanders9563
BTC/USDT 1Hr LINE CHART UPDATE !!Hello and welcome to this BTC/USDT LINE chart update by Crypto Sanders. I have tried to bring the best possible result in this chart. Chart Analysis:-welcome to btc line chat looking at btc line chart it looks like btc is forming a flag pattern inside a parallel channel and the same pattern is forming in btc rsi btc is moving between two trend lines now hopefully BTC may bounce from here thanks to a break out above its own separate trade line or parallel channel This is not a piece of financial advice. Hit the like button if you like it and share your chart in the comment section. Thank you
by CryptoSanders9563
USDT.DOMINANCE LINE CHART UPDATE !!Hello and welcome to this USDT.DOMINANCE LINE chart update by Crypto Sanders. I have tried to bring the best possible result in this chart. Chart Analysis:-Dominance is lowering inside the parallel channel We expect the dominance line chart to touch the upper train line and break down back to the bottom of the parallel channel as pumps can be seen in the altcoin. And dominance in RSI is showing bullish divergence. This is not a piece of financial advice. Hit the like button if you like it and share your chart in the comment section. Thank you
CRYPTOCAP:USDT.D
by CryptoSanders9563
#BTC/USDT 2hour update !!Hello and welcome to this BTC /USDT chart update by Crypto Sanders. I have tried to bring the best possible result in this chart. Chart Analysis:-BTC breakout $21.5K resistance level but couldn't give a close above it. Now it is consolidating in a parallel channel followed by a bullish move. Bulls are showing strength, and a solid breakout of the parallel channel would confirm the bullish continuation in the market. This is not a piece of financial advice. Hit the like button if you like it and share your chart in the comment section. Thank you
Long
by CryptoSanders9563
BTC/USDT 4HOUR UPDATEHello and welcome to this BTC /USDT chart update by Crypto Sanders. I have tried to bring the best possible result in this chart. Chart Analysis:-Bitcoin got multiple rejections from the resistance level. Bulls are trying hard to find a crack in the resistance. The weekly resistance is also $21,500-$21,700 zone and this is the key level to flip. A weekly breakout will open gates for a $28,000 area. Keep tight stop loss in all open positions as a rejection from here will send the price back to the $19,500-$20,000 support area. This is not a piece of financial advice. Hit the like button if you like it and share your chart in the comment section. Thank you
by CryptoSanders9563
SOL/USDT 1DAY UPDATE BY CRYPTO SANDERS !!Hello, welcome to this SOL/USDT 1 DAY chart update by CRYPTOSANDERS. I have tried to bring the best possible outcome to this chart. Show some support do hit the like button, follow and comment in the comment section. this motivates me to bring this kind of chart analysis on a regular basis. CHART ANALYSIS: Solana (SOL) started the week close to a two-month high, despite crypto markets starting to consolidate recent gains. SOL/USD touched a high of $24.75 on Monday, before falling to a low of $22.68 less than a day later. The move means the coin remains close to this weekend's high of $25.03, which was the strongest point for SOL since November 8th. From the charts, it appears that sentiment is still somewhat bullish in Solana, which continues to track above support at 80.00 as the 14-day Relative Strength Index (RSI) continues to track. As of writing, the index is tracking at 80.18, with Solana trading at a $23.42 price point. If the index stays near 80.00 in the coming days, there is a possibility that SOL may once again move toward $25.00. This is not a piece of financial advice. Hit the like button if you like it and share your charts in the comments section. Thank you
by CryptoSanders9563
4
SHIB/USDT 1DAY UPDATE BY CRYPTO SANDERS !!Hello, welcome to this SHIB/USDT 1DAY chart update by CRYPTO SANDERS. I have tried to bring the best possible outcome to this chart. CHART ANALYSIS:-Shiba Inu (SHIB) shrugged off today's price consolidation, maintaining recent higher levels in the process. After a low of $0.00001009 on Sunday, SHIB/USD climbed to a peak of $0.00001099 earlier today. Monday's action sees Meme Coin continue to trade near the two-month high of $0.00001111, which was hit last Friday. Like many cryptocurrencies last week, Shiba Inu price was mostly bought in recent days, with the RSI declining from the high of 80.00. Currently, the index is tracking at 73.00, with a floor of 70.00 a potential target for sellers. However, the bulls seem to have rejected this offer on Monday, with some instead eyeing a rally above $0.00001100. This is not a piece of financial advice. Hit the like button if you like it and share your charts in the comments section. Thank you
by CryptoSanders9563
2
bullish and bearish cup and handle pattern hello dear traders, Here are some educational chart patterns that you must know in 2022 and 2025. I hope you find this information educational and informative. We are new here so we ask you to support our views with your likes and comments, Feel free to ask any questions in the comments, and we'll try to answer them all, folks. What are the Cup and Handle chart patterns? A cup and handle pattern is a pattern of price movement on a trading chart that resembles a cup with a handle, from which it derives its name. The cup section of the pattern is formed from a U-shaped price movement, while the handle is a short price channel from the edge of the cup. The handle is actually a pullback after the right Swing of the cup. As is the case with other chart patterns, the cup and handle pattern shows you how the price has moved in the immediate past, which can help you predict future price movements. The time it takes for pattern formation varies: pattern formation can be as short as seven weeks or as long as 65 weeks or more. There are two types of patterns: the more popular bullish cup and handle pattern that you can see in bull markets and the inverted cup and handle pattern, also known as the bearish cup and handle pattern, that you can see in bear markets. In the bullish variant, which occurs in an uptrend, the pattern is formed by a downswing (pullback) that gradually turns into an upswing (in the trend direction) followed by a small pullback (a slight downward drift that creates a handle ) The reversal/bearish type, which appears in a downtrend, is formed by an upswing (pullback) that gradually turns into a downswing to continue the downtrend, but then pulls back (handle) a bit. Understanding the structure and inversion of the cup and handle pattern The cup and handle pattern can form in any time frame, but as a swing trader, you should focus on the daily time frame. To identify the cup and handle pattern or reversal type, you need to understand the price movements that form its structure. For example, to be a continuation pattern, there must be a prior trend before a cup and handle pattern can form. Let us look at both patterns one by one. The bullish Cup and Handle pattern:- An uptrend: For a bullish cup and handle pattern to form, there must be an established uptrend, but the trend must not be too mature because the more mature the trend, the less likely it is to continue. A trend on the daily time frame that is a few months old is fine. Cup: The cup is formed from a normal bust that gradually curves upward, creating a "U" shape. It should have a bowl or round bottom and not a sharp "V" shaped bottom. The round bottom ensures that there is a consolidation pattern with valid support at the bottom of the "U" cup. In addition, the pattern on both sides of the cup should be of equal height, but this may not always be the case. Cup depth: The cup should not be too deep. Generally, the cup depth should be around the 38.2% Fibonacci retracement of the previous advance. However, with overreaction in more volatile markets, retracements can range from 38.3% to 50% Fibonacci. In extreme cases, the retracement can reach 61.8% Fibonacci, which is in line with Dow Theory. Handle: This is a pullback that forms after the higher forms on the right side of the cup. This is a minor pullback or consolidation that sometimes resembles a downward-sloping flag or pennant. This is just a small, final consolidation/pullback before a bigger breakout, but could lead to a retracement to the 38.2% Fibonacci retracement of the swing high of the cup. The smaller the retracement, the more bullish the formation and the more significant the breakout. Duration: While the cup can last from 1 to 6 months (or several years on a weekly chart), the handle can take about 1-4 weeks to form. The bearish/inverse Cup and Handle pattern:- A downtrend (bear market): There must be an established downtrend for the inverted Cup and Handle pattern to be meaningful. However, the trend should be relatively young as downtrends don’t last that much. On the daily timeframe, the trend should be from a few weeks to a few months. The dome (inverted cup): The dome of this pattern is formed by a normal price rally in a downtrend (pullback), which gradually turns to a downward swing, thereby forming a dome shape. It should have a rounding top and not a sharp pyramid top. A rounding top ensures that the inverted cup is a consolidation pattern with valid resistance at the top of the structure. Both sides of the dome may or may not have equal lows. Dome height: The dome should not be too high. Usually, the height should be about 38.2% Fibonacci retracement of the preceding downswing, but the retracement could range from 38.3% to 50% Fibonacci in more volatile markets with over-reactions. In extreme situations, it could be up to 61.8% Fibonacci. The handle: This is a slight pullback that follows the downswing that forms the right side of the dome. It is a small consolidation that often looks like a bearish flag or pennant that slopes upward. The handle can retrace up to 38.2% Fibonacci of the dome’s swing down, but the smaller the retracement, the more bearish the formation and the more significant the breakout. Duration: The dome may take about 4 to 6 weeks or more to form, while the handle may take about a week or two. How to trade the Cup and Handle chart pattern:- The Cup and Handle pattern and the inverse type are potent trend continuation signals. When you see any of them, you have to trade in the direction of the trend. While you can trade these price action chart patterns on their own, it may be wise to confirm the trend with some tools, like trend lines and moving averages. Trading the bullish Cup and Handle pattern:- The bullish Cup and Handle pattern forms an uptrend and gives a bullish breakout signal. You might have to fix an uptrend line or a moving average to confirm the trend. Here is how you trade the pattern: Entry:- With this pattern, a buy signal occurs when the price breaks out of the upper trend line of the price channel that forms the handle. There should be a substantial increase in volume on the breakout above the handle’s resistance. Go long at the close of the breakout candlestick. Alternatively, you place a stop-buy order slightly above that upper trend line. Sometimes, it is prudent to wait for a breakout above the resistance line established by the highs of the cup. Stop loss:- You need a stop-loss order to get you out of the trade if after buying the breakout, the price drops, instead of rising. Your stop loss should be at a level that invalidates the pattern’s signal, and that level is below the lowest point of the handle. Profit target:- There are two potential profit target levels for this pattern. The first profit target is estimated by measuring a distance equivalent to the size of the handle, starting from the breakout point. The second profit target is estimated by measuring a distance equal to the depth of the cup, again, starting from the point of the breakout. Trading the bearish Cup and Handle pattern:- The bearish Cup and Handle pattern forms a downtrend and is traded as a bearish breakdown signal. So, you can use it to go short on the market if you want. This is how you trade the pattern: Entry:- You have a sell signal when the price breaks below the lower trend line of the price channel that forms the handle. There should be a spike in volume when this breakdown happens. You may go short at the close of the breakdown candlestick, or you place a stop-sell order slightly below that lower trend line. It might be wise to wait for a break below the support line established by the lows of the inverted cup. Stop loss:- When you are trading the inverse Cup and Handle pattern, you should place your stop loss order above the highest point of the handle. Profit target:- Two potential levels are good for your profit target: the first profit level is estimated by measuring a distance equal to the size of the handle, starting from the breakdown point, while the second profit level is estimated by measuring a distance equal to the height of the dome (inverted cup), starting from the point of the breakdown. Trade with care If you like our content, please feel free to support our page with a like, comment Hit the like button if you like it and share your charts in the comments section. Thank you
Education
by CryptoSanders9563
2
Head and Shoulder and Inverse Head and Shoulder differencehello dear traders, Here are some educational chart patterns that you must know in 2022 and 2025. I hope you find this information educational and informative. We are new here so we ask you to support our views with your likes and comments, Feel free to ask any questions in the comments, and we'll try to answer them all, folks. What is the head and shoulders pattern:- The head and shoulders pattern is used in technical analysis. This is a typical chart formation that predicts a bullish-to-bearish trend reversal. The pattern appears as a baseline with three peaks, where the outer two are close in height, and the middle is the highest. The head and shoulders pattern is formed when the price of a stock rises to a peak and then retraces to the base of the previous up-move. Then, the price rises above the previous peak to form a "head" and then back to the original base. Finally, the stock price reaches the level of the formation's first peak before turning down again. The Head and Shoulders pattern is considered to be one of the most reliable trend reversal patterns. It is one of several top patterns that signal with varying degrees of accuracy that an uptrend is nearing its end. Formation of the pattern:- Left shoulder: Price rise followed by a price peak, followed by a decline. Head: Price rise again forming a higher peak. Right shoulder: A decline occurs once again, followed by a rise to form the right peak, which is lower than the head. What Is the Inverse Head and Shoulders Pattern:- inverse head and shoulders, also called a "head and shoulders bottom", is similar to the standard head and shoulders pattern, but inverted: with the head and shoulders top used to predict reversals in downtrends. This pattern is identified when the price action of security meets the following characteristics: the price falls into a trough and then rises again; the price falls below the former trough and rises again; Finally, the price falls again but not to the second trough. Once the final trough is formed, the price moves upwards towards the resistance found near the top of the previous trough. Formation of the pattern:- Left shoulder: Price declines followed by a price bottom, followed by an increase. Head: Price declines again forming a lower bottom. Right shoulder: Price increases once again, then declines to form the right bottom. Advantages and Disadvantages of the Head and Shoulders Pattern:- Advantages:- Experienced traders identify it easily Defined profit and risk Big market movements can be profited from Can be used in all markets Disadvantages:- Novice traders may miss it Large stop loss distances possible Unfavorable risk-to-reward possible Advantages Explained:- Experienced traders identify it easily: The pattern is very recognizable to an experienced trader. Defined profit and risk: Short and long entry levels and stop distance can be clearly defined with confirmation openings and closings. Big market movements can be profited from: The timeframe for a head and shoulders pattern is fairly long, so a market can move significantly from entry to close price. Can be used in all markets: The pattern can be used in forex and stock trading. Disadvantages Explained:- Novice traders might miss it: The head and shoulders pattern may not present with a flat neckline; it may be skewed, which can throw off new traders. Large stop loss distances possible: Large downward movement over long timeframes can result in a large stop distance. The neckline can appear to move: If the price pulls back, the neckline might be retested, confusing some traders. Trade with care. If you like our content, please feel free to support our page with a like, comment Hit the like button if you like it and share your charts in the comments section. Thank you
COINBASE:BTCUSDEducation
by CryptoSanders9563
ETH/USD 1DAY UPDATE BY CRYPTO SANDERS !!Hello, welcome to this ETH /USD 1DAY chart update by CRYPTOSANDERS. I have tried to bring the best possible outcome to this chart. CHART ANALYSIS:-Ethereum (ETH) also retreated from recent highs, which comes after a failed breakout of its own. ETH/USD dropped to a low of $1,529.79 earlier today, after trading as high as $1,579.48 on Sunday. Ethereum failed to climb above the $1,580 high range, which led to a resurgence of some bearish sentiment. Like bitcoin, there was a lot of buying seen in Ethereum price, with the index at its highest point since January 2021. Now tracking at 83.46, the next visible floor seems to be at the 70.00 mark, which could see ETH trading near $1,475 if hit. This is not a piece of financial advice. Hit the like button if you like it and share your charts in the comments section. Thank you
BITSTAMP:ETHUSD
by CryptoSanders9563
2