BTC/USDTThe rising wedge (also known as the ascending wedge) pattern is a powerful consolidation price pattern formed when the price is bound between two rising trend lines. It is considered a bearish chart formation that can indicate reversal and continuation patterns – depending on location and trend bias. Regardless of where the rising wedge appears, traders should always maintain the guideline that this pattern is inherently bearish.
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BTC/USDTThe ascending triangle is a bullish continuation pattern and is characterized by a rising lower trendline and a flat upper trendline that acts as support. This pattern indicates that buyers are more aggressive than sellers as the price continues to make higher lows. The pattern completes itself when the price breaks out of the triangle in the direction of the overall trend.
BTC/USDTRight-Angled Broadening Wedges come in two varieties, ascending and descending. They consist of a horizontal trend line and a sloping trendline.
The Ascending Right-Angled Broadening Wedges (ARABW) have an ascending trendline above the horizontal trendline with price action in between.
The Descending Right-Angled Broadening Wedges (DRABW) have a descending trendline below the horizontal trend line with price action in between.
With both versions, the price broadens over time.
Prices should be seen to touch both trendlines twice. Two touches to form the horizontal trendline and two touches to form the sloping trendline.
Breakouts from these two patterns often follow a partial rise or a partial decline.