The Two Types of Coin Breakouts You Need to Know
When it comes to coin breakouts, there are only two types to look out for:
Genuine Breakouts
These are breakouts that signal a real shift in momentum and price direction.
Failed Breakouts
On the other hand, failed breakouts occur when a price movement fails to sustain itself in the expected direction.
If you are a momentum trader, being able to differentiate between these two types of breakouts is crucial for your success.
Below is a helpful cheat sheet that focuses on trading failed breakouts, emphasizing the importance of Open Interest as a confluence factor in your analysis.
Don’t miss: Top Crypto Events to Watch Next Week
