BTC, ETH: Ascending Triangle Breakouts! How to trade this chart pattern?

altFINS Newsletters 2 min read December 4, 2023
Lenka Fetyko

BTC, ETH: Ascending Triangle Breakouts! How to trade this chart pattern?

Ascending Triangle is a bullish pattern with about 70% win rate (see table below for historical pattern win rate stats).

Bitcoin (BTC) and Ethereum (ETH) have both recently broken out of Ascending Triangle patterns.

BTC is up 5% since then and ETH could swing to $2,400 for a 10% gain.

Chart Patterns Historical Win Rates

You can find hundreds of such pattern trade setups every week in our Patterns section across four time intervals: 15M, 1H, 4H, and 1D. Only on altFINS!

Also, our Technical Analyses section features trade setups on top 60 altcoins.

These are easy ways to find trading ideas every day even as a beginner trader.

Ascending Triangle Breakout

Ascending Triangle is a continuation pattern, meaning price typically breaks through the triangle resistance and resumes its prior Uptrend.
That’s exactly what’s playing out with BTC and ETH.
The reason an Ascending Triangle chart pattern forms is that every time price dips, buyers step in and buy the dip.  And they do that steadily at smaller and smaller dips, which shows they are eager to own this asset!  Finally, at some point, buyers absorb all the supply from sellers and push the price past the horizontal resistance.

Ethereum (ETH) Ascending Triangle Breakout!

altFINS platform automatically identifies 16 chart patterns such as Channels, Triangles, and Wedges.

You can find these and others in our Patterns section as well as Signals Summary section.

Don’t ever miss out on these trading opportunities; download our mobile app (iPhone, Android) to find the latest chart patterns.

Here are more resources:

Written byLenka Fetyko
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