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#ContentStar A rectangle is a chart pattern formed when the price is bounded by parallel support and resistance levels.A rectangle exhibits a period of consolidation or indecision between buyers and sellers as they take turns throwing punches but neither has dominated.The price will “test” the support and resistance levels several times before eventually breaking out. From there, the price could trend in the direction of the breakout, whether it is to the upside or downside.Example of Rectangle include 1 Bearish Rectangle A bearish rectangle is formed when the price consolidates for a while during a downtrend. This happens because sellers probably need to pause and catch their breath before taking the pair any lower.In this example, price broke the bottom of the rectangle chart pattern and continued to shoot down. If we had a short order just below the support level, we would have made a nice profit on this trade.Here’s a tip: Once the pair falls below the support, it tends to make a move that is about the size of the rectangle pattern. In the example above, the pair moved beyond the target so there would have been a chance to catch more pips! 2 Bullish Rectangle Here’s another example of a rectangle, this time, a bullish rectangle chart pattern. After an uptrend, the price paused to consolidate for a bit. Notice how the price moved all the way up after breaking above the top of the rectangle pattern. If we had a long order on top of the resistance level, we would’ve caught some pips on the trade! Just like in the bearish rectangle pattern example, once the pair breaks, it will usually make a move that’s AT LEAST the size of its previous range.
UNPOPULAR OPINION: 𝐈𝐟 𝐬𝐨𝐦𝐞𝐨𝐧𝐞 𝐬𝐡𝐢𝐥𝐥𝐬 𝟏𝟎𝟎 𝐬𝐡𝐢𝐭𝐜𝐨𝐢𝐧𝐬 𝐚𝐧𝐝 𝟐 𝐨𝐟 𝐭𝐡𝐞𝐦 𝐝𝐨 𝐚 𝟐𝟎𝐱 𝐓𝐡𝐚𝐭 𝐠𝐮𝐲 𝐢𝐬 𝐧𝐨𝐭 𝐚 𝐠𝐞𝐦 𝐡𝐮𝐧𝐭𝐞𝐫, 𝐡𝐞’𝐬 𝐚 𝐦𝐨𝐫𝐨𝐧. Be aware of this kind of people. CT is full of them. Their playbook: 1) They shill a ton of crappy projects (mostly paid shills). 2) They flex the right “calls” (1/100) 3) They delete the tweets of all the shitcoins that fail (99/100) BONUS: They always run a pump & dump group. How to spot them? Search for something like this: “I called $BTC at $1 I called $ETH at -$10 Now I’m telling you to buy *shitcoin* Do whatever you want with this info.” Or even this: “This year alone I made: 100x with $PEPE 100x with $TURBO 100x with *Another Shitcoin* I bought the bottom and sold the top. Want to learn how to do it? Join my premium telegram group.” 𝐅𝐮𝐜𝐤𝐢𝐧𝐠 𝐥𝐚𝐫𝐩𝐞𝐫𝐬 𝐰𝐢𝐭𝐡 𝐚 𝐦𝐚𝐬𝐬𝐢𝐯𝐞 𝐞𝐠𝐨. 𝐃𝐨𝐧’𝐭 𝐞𝐯𝐞𝐧 𝐰𝐚𝐬𝐭𝐞 𝐚 𝐬𝐞𝐜𝐨𝐧𝐝 𝐨𝐟 𝐲𝐨𝐮𝐫 𝐥𝐢𝐟𝐞 𝐰𝐢𝐭𝐡 𝐭𝐡𝐞𝐦. I also got distracted by some of them and lost precious time when I started my Crypto journey. Don’t repeat my mistake. There are plenty of good “influencers” on this platform, find them and learn the right things. Little rant over. Wish you an amazing day❤️‍🔥
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