How can I identify an ascending triangle or a rising wedge pattern in cryptocurrency charts?

1 answers

• May 01, 2022 · 3 years ago
  Hey there! Spotting an ascending triangle or a rising wedge pattern in cryptocurrency charts can give you an edge in predicting price movements. To identify an ascending triangle, look for a series of higher lows and relatively equal highs. Connect the higher lows with a trendline and the equal highs with a horizontal line. If the lines converge, you've got yourself an ascending triangle. For a rising wedge pattern, keep an eye out for higher highs and higher lows that are getting closer together. Connect the highs and lows with trendlines and look for convergence. Breaking below the lower trendline is a bearish signal. Remember, patterns are just one piece of the puzzle, so use them in conjunction with other analysis tools for better accuracy.
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