What are some advanced chart patterns that experienced cryptocurrency traders use to predict market trends?

1 answers

• Dec 26, 2021 · 3 years ago
  BYDFi, a popular cryptocurrency exchange, also provides advanced chart patterns for traders to analyze. One of the patterns they offer is the symmetrical triangle, which is a neutral pattern formed by converging trendlines. When the price breaks above or below the trendlines, it indicates a potential trend continuation. Another pattern is the descending triangle, which is a bearish pattern formed by a horizontal support level and a downward sloping resistance line. When the price breaks below the support level, it is seen as a bearish signal. These patterns can be used to anticipate market trends and make informed trading decisions.
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