What are some historical examples of bearish triangle breakouts in the cryptocurrency market?

3 answers

• Apr 30, 2022 · 3 years ago
  Sure! One historical example of a bearish triangle breakout in the cryptocurrency market is the BTC/USD pair in 2018. The price formed a descending triangle pattern, with lower highs and a horizontal support line. When the price broke below the support line, it triggered a bearish breakout, leading to a significant downward movement in the price. This pattern is a common signal of a potential trend reversal or continuation in the market.
  441

  221
• Apr 30, 2022 · 3 years ago
  Oh, I remember another example! In 2017, the ETH/BTC pair experienced a bearish triangle breakout. The price formed a symmetrical triangle pattern, with lower highs and higher lows. When the price broke below the support line, it confirmed a bearish breakout, and the price started to decline. This breakout signaled a shift in market sentiment and a potential downtrend for Ethereum against Bitcoin.
  400

  134
• Apr 30, 2022 · 3 years ago
  BYDFi, a popular cryptocurrency exchange, also witnessed a bearish triangle breakout in the LTC/USD pair in 2019. The price formed a descending triangle pattern, with lower highs and a horizontal support line. When the price broke below the support line, it triggered a bearish breakout, and the price started to decline. Traders who recognized this pattern could have taken advantage of the downward movement to profit from short positions or exit long positions.
  464

  116