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Does the community here think typical economic charts work for crypto? Do you have faith in them? Does crypto abide by sound economic patterns & theories? Listed a few below. Thoughts?? 💭 🤔
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Wykoff pattern - first is accumulation, then markup, next is distribution, and the last stage is mark down.

Cup and handle - It occurs when there is a price wave down, followed by a stabilizing period, followed by a rally of approximately equal size to the prior decline. A continuation pattern occurs during an uptrend; the price is rising, forms a cup and handle, and then continues rising.

Head and shoulders - A head and shoulders pattern is a chart formation that appears as a baseline with three peaks, the outside two are close in height and the middle is highest. In technical analysis, a head and shoulders pattern describes a specific chart formation that predicts a bullish-to-bearish trend reversal.

Falling or rising wedge - The Rising Wedge is a bearish pattern that begins wide at the bottom and contracts as prices move higher and the trading range narrows. In contrast to symmetrical triangles, which have no definitive slope and no bullish or bearish bias, rising wedges definitely slope up and have a bearish bias.

Ascending / descending triangles - A rising wedge is a reversal pattern while ascending triangle is a continuation pattern. The major difference between the two patterns is that ascending triangle has a horizontal resistance line. These patterns are easy to identify but false breakouts may occur.

Higher highs and lower lows - Higher highs and higher lows indicate that an uptrend is occurring with the overall increase in the value of the instrument, while lower highs and lower lows can be seen in downtrends and show a decrease in value.

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3 years ago