A rectangle pattern on the BTCUSD H1 chart!
A rectangle pattern is a continuation pattern that forms when the price is consolidating between two parallel horizontal lines. Here are some key points to consider:
Key Points
1. *Support and Resistance*: The lower line of the rectangle acts as support, while the upper line acts as resistance.
2. *Breakout Direction*:...
A rectangle pattern on the BTCUSD H1 chart!
A rectangle pattern is a continuation pattern that forms when the price is consolidating between two parallel horizontal lines. Here are some key points to consider:
Key Points
1. *Support and Resistance*: The lower line of the rectangle acts as support, while the upper line acts as resistance.
2. *Breakout Direction*:...
The rising wedge pattern on BTC/USD is a bearish reversal formation that typically occurs during an uptrend. It's characterized by two converging trendlines, both sloping upward, with the upper trendline being steeper than the lower one. As the price moves within this narrowing range, trading volume often decreases, signaling weakening buying interest ¹.
In the...
