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<p>Crypto trader Koroush AK, in <a href="https://twitter.com/KoroushAK/status/1722964060713746762?t=hNW2PxcP2OiRmeG9Mbg9PQ&amp;s=19" target="_blank" rel="noopener noreferrer nofollow">a post</a> to his more than 300k followers, explains how utilizing technical analysis can help investors capitalize on bull markets to achieve financial freedom. He provides a concise 5-minute guide on reading trends, identifying key support/resistance levels, and putting it all together into an effective trading strategy.</p>
<h2 class="wp-block-heading" id="step-1-understand-the-trend">Step 1: Understand the Trend</h2>
<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="1024" height="575" src="https://captainaltcoin.com/wp-content/uploads/2023/11/image-239-1024x575.png" alt="" class="wp-image-374366" srcset="https://captainaltcoin.com/wp-content/uploads/2023/11/image-239-1024x575.png 1024w, https://captainaltcoin.com/wp-content/uploads/2023/11/image-239-300x168.png 300w, https://captainaltcoin.com/wp-content/uploads/2023/11/image-239-766x430.png 766w, https://captainaltcoin.com/wp-content/uploads/2023/11/image-239-1536x862.png 1536w, https://captainaltcoin.com/wp-content/uploads/2023/11/image-239-2048x1149.png 2048w, https://captainaltcoin.com/wp-content/uploads/2023/11/image-239-267x150.png 267w, https://captainaltcoin.com/wp-content/uploads/2023/11/image-239-100x56.png 100w, https://captainaltcoin.com/wp-content/uploads/2023/11/image-239-624x350.png 624w, https://captainaltcoin.com/wp-content/uploads/2023/11/image-239-788x442.png 788w, https://captainaltcoin.com/wp-content/uploads/2023/11/image-239.png 900w" sizes="(max-width: 1024px) 100vw, 1024px">
</figure>
<p>Koroush recommends using moving averages (MAs) on varying timeframes to gauge the overall trend. On lower timeframes like the 7-day MA, look for the MA to fan out above longer MAs like the 30-day and 100-day in an uptrend. The opposite pattern occurs in downtrends. Neutral trends see MAs twisted together.</p>
<p>Trends also manifest in how price interacts with support and resistance. Uptrends see support holding stronger than resistance. Downtrends are the opposite, with resistance exerting more power than support levels.</p>
<h2 class="wp-block-heading" id="step-2-identify-key-levels">Step 2: Identify Key Levels</h2>
<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="1024" height="463" src="https://captainaltcoin.com/wp-content/uploads/2023/11/image-238-1024x463.png" alt="" class="wp-image-374356" srcset="https://captainaltcoin.com/wp-content/uploads/2023/11/image-238-1024x463.png 1024w, https://captainaltcoin.com/wp-content/uploads/2023/11/image-238-300x136.png 300w, https://captainaltcoin.com/wp-content/uploads/2023/11/image-238-767x347.png 767w, https://captainaltcoin.com/wp-content/uploads/2023/11/image-238-1536x695.png 1536w, https://captainaltcoin.com/wp-content/uploads/2023/11/image-238-2048x926.png 2048w, https://captainaltcoin.com/wp-content/uploads/2023/11/image-238-332x150.png 332w, https://captainaltcoin.com/wp-content/uploads/2023/11/image-238-100x45.png 100w, https://captainaltcoin.com/wp-content/uploads/2023/11/image-238-774x350.png 774w, https://captainaltcoin.com/wp-content/uploads/2023/11/image-238-788x356.png 788w, https://captainaltcoin.com/wp-content/uploads/2023/11/image-238.png 900w" sizes="(max-width: 1024px) 100vw, 1024px">
</figure>
<p>Support and resistance form at areas where buyers and sellers concentrate. Round numbers like $10k or $20k for Bitcoin often act as support/resistance. Any level holding 2+ times has significance. If support breaks, it can flip to resistance, and vice versa.</p>
<p>Applying this methodology clearly highlights key levels on Bitcoin’s chart using simple round numbers. No complexity required.</p>
<h2 class="wp-block-heading" id="step-3-putting-it-all-together">Step 3: Putting It All Together</h2>
<p>With trends and support/resistance identified, apply the rules:</p>
<ul>
 <li>Uptrends call for buying dips at support</li>
 <li>Downtrends call for shorting rallies at resistance</li>
 <li>Breakouts above resistance in uptrends offer long entries</li>
 <li>Breakdowns below support in downtrends offer short entries</li>
</ul>
<p>This framework forms the basis of a trading strategy. Koroush notes this is the minimum required to implement effective technical analysis. Further skills like risk management and journaling help maximize gains.</p>
<p>Read also:</p>
<ul>
 <li><a href="https://captainaltcoin.com/will-history-repeat-as-solana-sol-faces-tough-resistance-again/" target="_blank" rel="noopener noreferrer nofollow">Will History Repeat as Solana (SOL) Faces Tough Resistance Again?</a></li>
 <li><a href="https://captainaltcoin.com/polygon-market-cap-surges-54-in-3-weeks-as-whales-continue-to-accumulate-matic/" target="_blank" rel="noopener noreferrer nofollow">Polygon Market Cap Surges +54% in 3 Weeks as Whales Continue to Accumulate MATIC</a></li>
 <li><a href="https://captainaltcoin.com/bitcoin-etf-token-crosses-100k-with-btc-price-surge-1-day-left-in-the-presale-stage/" target="_blank" rel="noopener noreferrer nofollow">Bitcoin ETF Token Crosses $100K With BTC Price Surge – 1 Day Left in the Presale Stage</a></li>
</ul>
<h2 class="wp-block-heading" id="the-bottom-line">The Bottom Line</h2>
<p>According to Koroush, using basic technical analysis to read trends, spot support/resistance levels, and combine it into a rule-based approach can help traders profit enormously in bull markets. While there are more advanced technical techniques, these core concepts offer enough edge to achieve financial freedom in crypto’s explosive bull runs.</p>
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<p>The post <a href="https://captainaltcoin.com/crypto-expert-explains-technical-analysis-principles-that-helped-him-reach-financial-freedom/" rel="noopener noreferrer nofollow">Crypto Expert Explains Technical Analysis Principles That Helped Him Reach Financial Freedom</a> appeared first on <a href="https://captainaltcoin.com" rel="noopener noreferrer nofollow">CaptainAltcoin</a>.</p>

Crypto Expert Explains Technical Analysis Principles That Helped Him Reach Financial Freedom

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