Ascending triangles are bullish continuation patterns that form when the upper trend line is flat or horizontal while the lower trend line continues to rise diagonally. This indicates the up trend has stalled while the support line representing buyers continues to rise, thereby closing the distance between the lower and upper trend line . Eventually the lower trend line closes in the gap enough to cause impatient bidders to come off the fence in a buying spree that surges the price through the upper trend line resistance with heavy volume . This breakout action resumes the next leg on the up trend as prices climb to new highs.
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To play these chart patterns, you should consider both scenarios (upside or downside breakout) and place one order on top of the formation and another at the bottom of the formation.
If one order gets triggered, you can cancel the other one. Either way, you’d be part of the action. Double the possibilities, double the fun!
The only problem is that you could catch a false break if you set your entry orders too close to the top or bottom of the formation.
So be careful and don’t forget to place your stops too!
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Guys I told you ! Sell all your BTC for 5600 $ And I was again right ;)
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When we broke 6200 $ (green line) for me it was clear! We going to touch 3000-3400 $!