Is Technical Analysis Difficult ... ? - 2

Is Technical Analysis Difficult ... ? - 2


Most investors who are keen on cryptocurrencies try to take positions according to the opinions of technical analysis experts because they are not knowledgeable in technical analysis. Sometimes it causes the right investment and sometimes the wrong investment.

So what do we need to do to make minimum mistakes… ?

What we need to do is to confirm the accuracy of what technical analysts say. It is simply necessary to know the patterns of technical analysis. I'm going to tell you how to simply read a price chart without being a technical analyst...

In this article, I'm going to talk about a number of technical analysis formats...
Fear not, there are no technical terms, it will be in the way a casual investor will understand...

If you're ready, let's start …

Our second technical analysis pattern; Double Top…

We see this pattern when an emerging market tests a level, pulls back, and then retests that level. But it cannot break the level and the price drops. Note that the two highs seen here are around the same price point. This formation, which shows two top at the same level, is therefore called a Double Top pattern. This pattern indicates that the market does not have enough bullish momentum to break the key resistance level.



double top

Double Top Pattern


Pattern time of Double Top; varies between 4 weeks and 4 months, depending on the strength of the trend. 4-hour and one-day price charts should be examined.

Another name for the Double Top in technical analysis is the "Perfect M".

My last words; Shortly before the start of the bull rally, bullish signals began to appear in various formations in many cryptocurrencies. During this time, I will try to explain the important formations to you simply.


I hope now, after reading my article, you have learned about Double Top Pattern.


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Journey To The Cryptocurrency Ocean
Journey To The Cryptocurrency Ocean

"Keep your eyes on the stars, and your feet on the ground."

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