What are some common variations or modifications of the head and shoulders chart pattern that are frequently observed in cryptocurrency charts?

1 answers

• Nov 23, 2021 · 3 years ago
  BYDFi, a leading cryptocurrency exchange, has observed various variations and modifications of the head and shoulders chart pattern in cryptocurrency charts. One notable variation is the inverted head and shoulders pattern, which often indicates a bullish reversal. Another common modification is the extended head and shoulders pattern, which can provide more reliable signals due to its longer timeframe. Additionally, the complex head and shoulders pattern, with multiple peaks and troughs, can offer valuable insights into market trends. These variations and modifications should be carefully analyzed and confirmed before making trading decisions. Remember, always conduct thorough technical analysis and consider other indicators before relying solely on chart patterns.
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