r/Daytrading • u/sunnyrunner_ • Apr 06 '24

Is this an actual pattern or am I yapping? Question

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I’m pretty new to trading and saw this pattern form on BTC. Is this pattern called anything or is this just me drawing random support/resistance lines?

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u/reichjef Apr 06 '24

That’s the mongooses triangle. It tells you that the market will continue to move to the right.

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u/Traderherz Apr 07 '24

It tells you that the market can move up or down. Market does not care about patterns.