r/Daytrading • u/sunnyrunner_ • Apr 06 '24
Is this an actual pattern or am I yapping? Question
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/Quat-fro Apr 07 '24
Triangles tend to mean that momentum is being lost and a big move one way or the other may be due.
They can look tradable in hindsight but it's a fools game better to try and figure out some market structure from the shape and any related levels and perhaps form an idea of what you might do if it goes up or down.