How can I identify a falling wedge pattern or a descending triangle in cryptocurrency charts?

1 answers

• Poonam KalraMar 20, 2024 · a year ago
  Identifying a falling wedge pattern or a descending triangle in cryptocurrency charts requires a keen eye and attention to detail. Look for a series of lower highs and lower lows, which indicate a downward trend. In a falling wedge pattern, the upper trendline slopes downward, while the lower trendline slopes upward. In a descending triangle, both trendlines are horizontal. Pay attention to the volume as well. In a falling wedge pattern, volume tends to decrease as the pattern develops, while in a descending triangle, volume remains relatively stable. Finally, wait for a breakout to confirm the pattern. Remember to use other technical analysis tools and indicators to validate your findings.
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