What are some successful examples of trading ascending triangles in the world of cryptocurrencies?

1 answers

• Mauricio LugoFeb 08, 2023 · 3 years ago
  Certainly! One notable example of trading ascending triangles in the world of cryptocurrencies is the breakout of Ripple's ascending triangle pattern in 2017. Traders who identified this pattern and entered a long position at the breakout point were able to capitalize on the subsequent rally in Ripple's price. The key factors that contributed to the success of this trade were the well-defined resistance level, the increasing volume during the consolidation phase, and the overall market excitement surrounding Ripple at that time. However, it's important to mention that trading strategies should be based on thorough analysis and risk management, as not all ascending triangles lead to profitable trades. Always consider multiple factors and indicators before making any trading decisions.
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