Is Bitcoin heading lower yet again? This pattern may give traders a much-needed clue
The pattern, which resembles a bear flag, is formed when two trendlines converge once the trading range narrows after a series of higher lows and higher highs.It is worth noting that the rising wedge formation is generally treated as a bearish indicator that appears on the cusp of a potential price breakdown.
There are, however, some caveats. As Brandt points out, the majority of emerging trading patterns end up forming something else. Hence, there’s no guarantee that the rising wedge pattern will be completed.is a religion, taking a dig at the cultish community behind the largest cryptocurrency.
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