Falling Wedge Patterns Emerging
Downtrend in altcoins appears to be turning into sideways action and in the process, we’re seeing formation of Falling Wedge patterns.
We’ve prepared a video, in which we discuss what that means and how to trade it. Hint: potentially a bullish reversal up ahead.
You can find Falling Wedge patterns in our Curated Charts section (see table below). These can generate some decent trade setups for you if you know how to leverage that information and set up alerts.
Falling Wedge pattern typically resolves in a bullish breakout. The pattern can appear in an Uptrend or Downtrend, the latter is our case. See Pattern Cheat sheet for more info.
The way to trade it, like with most patterns, is to wait for a breakout. Read more in our knowledge base.
Watch this video to get an update on the altcoins market and learn about Falling Wedge pattern.
You can find Falling Wedge patterns in our Curated Charts but also in the Patterns section. Below are some examples of “emerging” Falling Wedge patterns: PNT and ETC. These are emerging, meaning, price is still bouncing between the resistance and support trendlines. Notice that the price is nearing a pinnacle of these wedges, hence, a breakout is approaching (bullish or bearish).
Quick tip: search Patterns for Breakouts from Inverse Head and Shoulders, Resistance, Ascending Triangles, Channels and Wedges, which are patterns with the highest success rates.
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Disclaimer: This content is for informational purposes only, you should not construe any such information or other material as investment, financial, or other advice. There are risks associated with investing in cryptocurrencies. Loss of principal is possible.