Education Rising wedge The rising wedge is a technical chart pattern which traders use to identify possible trend reversal, which appears to be an upward-sloping price chart featuring two converging trendlines. When traders find such patterns they get prepared for selling opportunities in market, and it provides lower risk setups with high rewards possibility.
What makes the chart interesting today is that: . BTCUSD challenging the Wedge's UpTrend. . A break bellow Wedge's UpTrend could push the pair to its $10,400 ~ $10,500 previous support areas. . A rejection at the Wedge's UpTrend, however, could lead to another retest of the Wedge's top. Will the BTC see an downside breakout against the USD? No one knows it! We...
Reversal or Continuation Pattern Rising Wedge Prices are moving upward, forming higher highs and higher lows, but the price is confined within two lines which get closer together to create a pattern. This indicates a slowing of momentum and it usually precedes a reversal to the downside. This means that you can look for potential selling opportunities. ...