#Content Star

OTHER TRIANGLES

Triangle is the most common technical pattern.
Except for ascending triangle and descending triangle, there is the bottom triangle, spreading triangle (in trumpet shape), and convergent triangle, which we collectively refer to as other triangles.

HOW TO IDENTIFY OTHER TRIANGLES?
1.Other triangle patterns may appear in either the rising or falling market.

2.When using triangles to predict the market trend, we should be flexible and consider the current situation.
The meaning of the pattern may vary depending on actual market conditions, so don’t be too mechanical.

APPLICATION OF OTHER TRIANGLES
When the price line goes up to break the top of the triangle and ends positively, the coin looks up and it is suggested to go long

When the coin price drops to break the bottom of the triangle and closes negatively, the coin looks down and investors should sell to go short

APPLICATION IN TRADING

In the picture above the coin price broke the bottom of the triangle:
The picture above depicts the daily chart of Gate.io contract BTC. From January 23, 2021, to May 1, 2021, BTC fell all the way from a high of $66,000 to $35,000, and then fluctuated between $35,000 and $47,000, and a convergent triangle appeared.

As the long and short forces were balanced out, the price went down all the way to $37,000, where the button of the triangle was crossed and declined sharply thereafter.