What are the common expanded flat patterns in the cryptocurrency market?

3 answers

• Feb 17, 2022 · 3 years ago
  Expanded flat patterns are a common occurrence in the cryptocurrency market. These patterns are characterized by a three-wave structure, with the second wave retracing at least 61.8% of the first wave. The third wave typically extends beyond the end of the first wave, creating a flat correction. Traders can identify these patterns by analyzing price charts and looking for the specific wave structure and retracement levels. It's important to note that not all flat corrections are expanded flats, so careful analysis is required to confirm the pattern.
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• Feb 17, 2022 · 3 years ago
  Expanded flat patterns in the cryptocurrency market are similar to those found in traditional financial markets. They represent a temporary pause or correction in the overall trend. These patterns can provide valuable insights for traders, as they often indicate a potential continuation of the larger trend after the correction is complete. By understanding the characteristics of expanded flat patterns and learning how to identify them, traders can make more informed decisions and take advantage of potential trading opportunities.
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• Feb 17, 2022 · 3 years ago
  In the cryptocurrency market, expanded flat patterns can be observed across various cryptocurrencies and timeframes. These patterns are a result of market psychology and the interplay between buyers and sellers. Traders can use technical analysis tools and indicators to identify these patterns, such as Elliott Wave theory and Fibonacci retracements. It's important to remember that expanded flat patterns are not guaranteed to occur in every market situation, so it's essential to combine technical analysis with other factors to make well-informed trading decisions.
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