Triangle formation indicates a possible continuation or reversal
➡️ Rising
The resistance line (upper line) remains horizontal, and the support line (lower line) rises. Indicates increasing minimum values with fixed maximum values
The formation is considered bullish and indicates a likely continuation of the uptrend after breaking through the resistance line.
➡️ Descending
The support line (lower line) remains horizontal, and the resistance line (upper line) moves down. Indicates lower maximum values with fixed minimum values
The formation is considered bearish and indicates a likely continuation of the downward trend after the breakdown of the support line.
➡️ Symmetrical
Trend lines drawn through the maximum and minimum converge with each other. Each subsequent high is lower than the previous one, and each subsequent low is higher than the previous one.
Quite difficult to work out, as it does not carry a clear trend
🧠 The most important thing is that they ONLY WORK ON THE TREND. If you find a triangle on a dead coin, then you will not see any breakout there, because there is no one to break through.
