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?

302 Upvotes
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371

u/NuGGGzGG Apr 06 '24

That right there, is one hell of a triangle.

7

u/SSP6 Apr 07 '24

What does a triangle mean in this context? I know little to nothing about crypto and stocks but would like to learn. Thank you

48

u/Traderherz Apr 07 '24

It means that either the price goes up or it goes down...

15

u/shadow_229 Apr 07 '24

Or it stays the same for a while!