What are some historical examples of bearish triangle breakouts in the cryptocurrency market?

3 answers

• Nov 28, 2021 · 3 years ago
  Sure! One historical example of a bearish triangle breakout in the cryptocurrency market is the BTC/USD pair in 2018. The price formed a descending triangle pattern, with lower highs and a horizontal support line. When the price broke below the support line, it triggered a bearish breakout, leading to a significant downward movement in the price. This pattern is a common signal of a potential trend reversal or continuation in the market.
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• Nov 28, 2021 · 3 years ago
  Oh, I remember another example! In 2017, the ETH/BTC pair experienced a bearish triangle breakout. The price formed a symmetrical triangle pattern, with lower highs and higher lows. When the price broke below the support line, it confirmed a bearish breakout, and the price started to decline. This breakout signaled a shift in market sentiment and a potential downtrend for Ethereum against Bitcoin.
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• Nov 28, 2021 · 3 years ago
  BYDFi, a popular cryptocurrency exchange, also witnessed a bearish triangle breakout in the LTC/USD pair in 2019. The price formed a descending triangle pattern, with lower highs and a horizontal support line. When the price broke below the support line, it triggered a bearish breakout, and the price started to decline. Traders who recognized this pattern could have taken advantage of the downward movement to profit from short positions or exit long positions.
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