Trading the BTC Price Pattern: Pending Orders Strategy
Updated
In the chart above, both buyers and sellers seem unable to steer the price in their desired direction. This is evident in the formation of lower highs and higher lows. When the top and bottom lines converge, a breakout is imminent. Although the direction of the price movement is uncertain, it is clear that the market is preparing for a significant change. To trade this pattern, we can place a pending order above the upper line and below the lower line of the triangle.
Note
Note
Note
The wedge is an isosceles triangle. The two sides are struggling. I think we need to wait a little more time before entering an order.Note
Note
The price is trying to break out of the triangle
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