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A symmetrical triangle is a situation on a chart where the tops of the price are lower and the bottoms are higher. Besides, two sides of the triangle are inclined at the same angle. This figure continues the previous trend. The appearance of a symmetrical triangle on the chart means that the volatility on the market has been decreasing for a certain period of time, so a burst of volatility is bound to happen soon.

Detailed description of the "symmetrical triangle" pattern

-A previous trend is necessary before an isosceles triangle, so that there is something to continue.
-Minimum of 4 touch points: 2 touching the ascending support line and 2 touching the descending resistance line. The more touch points, the more reliable the pattern.
-Trading volume should decrease as the pattern is formed.
-Despite the fact that the symmetrical triangle is a figure of trend continuation, it happens that there is a breakout in the opposite direction of the trend. To be sure of this figure, we recommend waiting for a retest of the upper or lower boundary of the triangle.

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Bitcoin Shows Relative Strength ~

“Although global instability and the bear market are expected to persist, the low volume of deposits into exchanges validates the exhaustion of selling pressure in Bitcoin.” – Read More

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