How can I determine the price target for the head and shoulders pattern in cryptocurrency trading?

3 answers

• Jun 01, 2022 · 3 years ago
  The price target for the head and shoulders pattern can be determined by measuring the distance from the top of the head to the neckline. This distance is then projected downwards from the breakout point of the neckline. It's important to note that the price target is an estimate and not a guarantee. It's always recommended to use other technical analysis tools and indicators to confirm the price target.
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• Jun 01, 2022 · 3 years ago
  Determining the price target for the head and shoulders pattern involves identifying the height of the pattern, which is the distance between the head and the neckline. This height is then subtracted from the breakout point of the neckline to get the price target. However, it's important to consider other factors such as market conditions and volume before making any trading decisions based solely on the head and shoulders pattern.
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• Jun 01, 2022 · 3 years ago
  When it comes to determining the price target for the head and shoulders pattern, BYDFi suggests using the measured move technique. This involves measuring the distance from the top of the head to the neckline and projecting it downwards from the breakout point. However, it's important to remember that technical analysis is just one tool in your trading arsenal. It's always recommended to consider other factors and indicators before making any trading decisions.
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