853

Edel (EDELUSDT) is trending right now!
Rank: #853
** Hello Binance Square family! 📊 Today, we will learn to make price predictions using chart patterns, a fundamental concept in technical analysis. 🎯 **Step 1: What Are Chart Patterns?** Chart patterns are specific shapes formed on price charts. These patterns help predict market trends and possible future price movements. 📈 **Step 2: Analyzing the Daily Chart** Right now, the price is at the $76,078.61 level. On the daily chart, it shows a change of % -1.11 over the last 24 hours. 🤔 **Step 3: Support and Resistance Levels** A support level is the price level where the price falls but doesn’t fall any further. A resistance level is the price level where the price rises but doesn’t rise any further. 📊 For example, on the daily chart, the $75,000 level could be a support level. If the price drops to this level, there may be a high possibility of it rising again. 🚀 **Step 4: Trendlines** Trendlines are lines that indicate the direction of price movement. An uptrend line shows that the price is rising. A downtrend line shows that the price is falling. 📉 **Step 5: Price Prediction with Chart Patterns** Now, let’s examine an example of a chart pattern on the daily chart. 📊 For example, the Ascending Triangle pattern indicates that the price stays stable at a certain level and that there is a breakout likelihood to the upside. 🚀 **Practical Application Recommendation:** Open the /USDT pair on Binance and in the daily chart, trendlines, support and resistance levels, chart patterns