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So, what you all actually see is a Descending Triangle Pattern formed in Binance Coin.
A descending triangle is a part of the 3 famous triangle patterns, namely:- Ascending, Descending, Symmetrical.
All these patterns are some way or another part of Price Action Trading. In this case the upper trend line indicates lower highs and the bottom line indicates equal lows(~).
And eventually, price breaks the pattern and a Bearish Breakdown occurs.(Keeping in mind that the break may vary in the other two patterns).
After the price took a little support, it went back up and retested the previous support which is generally when most of the traders prefer to enter and make a position, as it's the safest entry possible in the given circumstances.
With that being said...
Happy Trading !!!
A descending triangle is a part of the 3 famous triangle patterns, namely:- Ascending, Descending, Symmetrical.
All these patterns are some way or another part of Price Action Trading. In this case the upper trend line indicates lower highs and the bottom line indicates equal lows(~).
And eventually, price breaks the pattern and a Bearish Breakdown occurs.(Keeping in mind that the break may vary in the other two patterns).
After the price took a little support, it went back up and retested the previous support which is generally when most of the traders prefer to enter and make a position, as it's the safest entry possible in the given circumstances.
With that being said...
Happy Trading !!!
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Penerbitan berkaitan
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.