How can I use the head and shoulders measured move to predict price movements in cryptocurrencies?

1 answers

• FU4YAug 17, 2024 · a year ago
  The head and shoulders measured move is a technique that can be used to predict price movements in cryptocurrencies. It is based on the head and shoulders pattern, which is a reversal pattern commonly found in charts. The pattern consists of three peaks, with the middle peak being the highest (the head) and the other two peaks being lower (the shoulders). The measured move refers to the expected price movement after the pattern is completed. To use this technique, you would first identify the head and shoulders pattern on the chart. Once the pattern is confirmed, you can measure the distance from the head to the neckline, which is the support level connecting the lows of the shoulders. This distance is then projected downwards from the breakout point, which is the point where the price breaks below the neckline. The projected distance gives you an idea of the potential price decline. However, it's important to note that technical analysis is not a guarantee of future price movements, and it's always recommended to use other analysis methods and indicators to confirm your predictions.
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