Which Wyckoff chart patterns are considered bullish signals for digital currencies?

1 answers

• jerry.duFeb 19, 2021 · 5 years ago
  Of course! Here are a few Wyckoff chart patterns that are considered bullish signals for digital currencies: 1. Upthrust after Distribution: This pattern occurs when the price breaks above a resistance level but quickly reverses and closes below it. It suggests that the market is ready to move higher. 2. Spring: A spring is a false break below support, followed by a quick recovery above it. It indicates that buyers are stepping in and pushing the price higher. 3. Buying Climax: A buying climax occurs when the price reaches a new high but closes near the low of the candle. It suggests that the market is exhausted and a reversal is likely. 4. Shakeout: A shakeout is a quick move below support that triggers stop-loss orders, followed by a rapid recovery. It indicates that weak hands have been shaken out, and the market is ready to rally. These patterns can be used to identify potential bullish signals in the digital currency market and help inform trading decisions.
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