What are the most common channel patterns in the cryptocurrency market?

1 answers

• Tharanee BenlotAug 26, 2023 · 2 years ago
  At BYDFi, we have observed that the most common channel patterns in the cryptocurrency market are ascending channels and descending channels. Ascending channels are formed when the price makes higher highs and higher lows, indicating a bullish trend. Descending channels, on the other hand, are formed when the price makes lower highs and lower lows, indicating a bearish trend. These patterns can be identified by drawing trendlines along the highs and lows of the price chart. Traders can use these patterns to determine entry and exit points for their trades and potentially profit from the market.
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