Chart Patterns You should know before investing in cryptos !!! -- part 1

CHART PATTERNS

Before moving on to candlestick-specific formations, about a dozen basic chart patterns should be looked at. These are
general shapes formed within charts (whether line, candlestick, or others) that can affect and predict future price action. All are usually discernable on a wider timeframe instead of the short-term timespan of most candlestick formations. The most important and common patterns are included in the Essentials section at the end of this chapter. That said, don’t underestimate any, and I suggest you read carefully into each.

Triangles
Symmetrical
Ascending
Descending
Price Channel
Rounding Bottom
Cup and Handle
Pennant
Flag
Rectangles
Wedge
Head and Shoulders
Double Bottom/Double Top
Triple Bottom/Triple Top
Bump and Run

TRIANGLE S

Triangle patterns are the most well-known formation; they’re practically synonymous with popular knowledge of technical analysis. Three sub-categories of triangle formations exist, all of which are continuation patterns (signaling that a trend with continuing in the form of a breakout) Ideally, any of the triangle formations described below could tell you if an uptrend will keep trending upward or if a downtrend will continue down. Triangle patterns are relatively common across crypto charts and, if traded correctly, should serve as reliable indicators.
Below is a look into each triangle pattern, along with real examples.

ASCENDING TRIANGLE

Ascending triangles are continuation patterns that form a horizontal upper trendline and a diagonally rising lower trendline. Typically, a bullish breakout will occur near the tip of the triangle (really, it will occur once the trading range diminishes enough for buyer support to recover and push through resistance, which is normally close to the tip).
The upper trendline (the resistance) then becomes the new support line. Thus, a simple ascending triangle short-term
trade involves buying a long order once two bars close above the breakout line (to omit false signals) and setting a stop-loss order at or just under the breakout line.