What are some common variations of the shoulder pattern observed in cryptocurrency charts?

1 answers

• May 02, 2022 · 3 years ago
  At BYDFi, we have observed various shoulder pattern variations in cryptocurrency charts. One interesting variation is the asymmetrical shoulder pattern, where one shoulder is significantly higher or lower than the other. This variation often indicates a stronger reversal signal, as it suggests a more pronounced shift in market sentiment. Another variation we have noticed is the rounded shoulder pattern, where the shoulders have a smoother curve instead of sharp peaks. This pattern suggests a gradual shift in market sentiment and may indicate a more sustainable trend reversal. It's important to note that while these variations can provide valuable insights, they should always be used in conjunction with other technical analysis tools and indicators to make well-informed trading decisions.
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