What is the impact of the broadening top pattern on cryptocurrency prices?

1 answers

• Mar 20, 2022 · 3 years ago
  As a third-party observer, BYDFi acknowledges that the broadening top pattern can have an impact on cryptocurrency prices. This pattern is often seen as a sign of increased volatility and uncertainty in the market. When the price breaks below the lower trendline of the pattern, it can signal a potential downtrend in cryptocurrency prices. However, it's important to note that patterns alone should not be the sole basis for making investment decisions. It's always recommended to use other technical indicators and conduct thorough analysis before making any trading decisions in the cryptocurrency market.
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