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RE: Lesson on Basic TA Patterns CONSTANTLY Seen in Crypto
Good info for the new traders, and sure there are a lot of new traders who are first exposed because of crypto. Sure, this patterns are forming due to market psychology, but personally if looking for long term positions, I trade the breakouts and not the formations. This way positions are safer to hold for a longer term.
Same.."As a breakout trader, I'd place a short sell, limit order upon break down of the support level with my stop loss at about $9k."
That'd be a good spot. While everyone screaming that bulls are back, I'm still cautious on how the markets have been playing. It's like mirroring the 2014 bear market. That $1k increase looks like how it happened back then and searched for new lows before really recovering.
Agreed