How can I identify an expanding wedge pattern in cryptocurrency charts?

1 answers

• Nov 28, 2021 · 3 years ago
  Identifying an expanding wedge pattern in cryptocurrency charts can be challenging, but here's a step-by-step guide: 1. Start by identifying a clear uptrend or downtrend in the price. 2. Look for a series of higher highs and higher lows (in an uptrend) or lower highs and lower lows (in a downtrend). 3. Draw trendlines connecting the highs and lows, making sure they converge. 4. Pay attention to the volume during the formation of the pattern. It should decrease as the pattern develops. 5. Wait for a breakout from the pattern, usually in the direction of the previous trend. Remember to always consider other technical indicators and market conditions before making any trading decisions.
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