What are the most common triangle patterns used in cryptocurrency trading?

1 answers

• Dec 27, 2021 · 3 years ago
  When it comes to triangle patterns in cryptocurrency trading, there are a few that you should be familiar with. The first one is the ascending triangle, which is formed by a horizontal resistance line and an upward sloping support line. This pattern indicates a potential bullish breakout. The second one is the descending triangle, which is formed by a horizontal support line and a downward sloping resistance line. This pattern suggests a potential bearish breakout. The third one is the symmetrical triangle, which is formed by converging trendlines. This pattern indicates a period of consolidation before a potential breakout in either direction. Remember, it's important to look for confirmation signals, such as increased volume or a significant price movement, before making any trading decisions based on these patterns.
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