What are the differences between an ascending triangle and a rising wedge in the context of cryptocurrency trading?

1 answers

• May 01, 2022 · 3 years ago
  In the context of cryptocurrency trading, an ascending triangle and a rising wedge are two chart patterns that traders often analyze to predict future price movements. An ascending triangle is characterized by a horizontal resistance level and an upward sloping support line. This pattern suggests that buyers are gaining strength and the price is likely to break out to the upside. On the other hand, a rising wedge is characterized by a downward sloping resistance line and a rising support line. This pattern indicates that sellers are gaining control and the price is likely to break down. Traders can identify these patterns by drawing trendlines and monitoring the price action. By understanding the differences between these patterns, traders can make more informed trading decisions and potentially increase their profits.
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