What are some real-life examples of cryptocurrencies that have experienced a rising wedge pattern and how did it impact their prices?

3 answers

• Feb 17, 2022 · 3 years ago
  Sure! One example of a cryptocurrency that experienced a rising wedge pattern is Bitcoin. During the period from December 2017 to February 2018, Bitcoin's price formed a rising wedge pattern, which is a bearish reversal pattern. As the pattern unfolded, Bitcoin's price started to decline, eventually leading to a significant drop in its value. This pattern indicated a potential trend reversal and many traders used it as a signal to sell their Bitcoin holdings.
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• Feb 17, 2022 · 3 years ago
  Oh, I remember another cryptocurrency that had a rising wedge pattern in its price chart - Ethereum. In early 2018, Ethereum's price formed a rising wedge pattern, which is typically seen as a bearish signal. As the pattern completed, Ethereum's price started to decline, and it went through a significant correction. This pattern had a negative impact on the price of Ethereum, causing many traders to sell their holdings.
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• Feb 17, 2022 · 3 years ago
  Well, I can give you an example from my experience at BYDFi. One of the cryptocurrencies that exhibited a rising wedge pattern was Ripple. In 2019, Ripple's price formed a rising wedge pattern, indicating a potential trend reversal. As the pattern played out, Ripple's price started to decline, and it had a significant impact on its value. Many traders who recognized this pattern used it as a signal to sell their Ripple holdings and avoid further losses.
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