Trade Bitcoin Trading

What is Symmetrical Triangle Bitcoin Chart Pattern?

Trading Cryptocurrency Identify a Symmetrical Triangle BTCUSD Pattern in Bitcoin Trading

The Best Trading Patterns Tutorial for Beginner Traders - How to Identify and Trade Symmetrical Triangle Bitcoin Chart Pattern

BTCUSD Crypto Currency Patterns for Day Trading - Bitcoin Crypto Currency Patterns Explained

This Symmetrical Triangle patterns charts tutorial explains how to identify cryptocurrency chart patterns - spotting cryptocurrency patterns is the first step when it comes to learning how to bitcoin trade with Symmetrical Triangle cryptocurrency chart patterns in Bitcoin.

Symmetrical Triangle bitcoin price patterns commonly form on Bitcoin charts & this cryptocurrency pattern analysis tutorial explains how to trade and analyze charts using Symmetrical Triangle cryptocurrency patterns.

Symmetrical Triangle Bitcoin Patterns

Symmetrical Triangle bitcoin trading chart patterns are cryptocurrency chart patterns with converging bitcoin trend lines that form a bitcoin price Symmetrical Triangle period. The technical buy point from a Symmetrical Triangle cryptocurrency chart pattern is the upside break, while a down-side break is a technical sell cryptocurrency signal. Ideally, a market breaks-out from a symmetrical triangle before reaching apex of the triangle.

BTCUSD Crypto Currency Trend Lines can be plotted by connecting the lows and highs of the Symmetrical Triangle phase, the bitcoin trend lines formed are symmetric & converge to form an apex. A breakout should occur somewhere between 60-80% into the Symmetrical Triangle cryptocurrency chart pattern - triangle cryptocurrency chart pattern. An early or late break out is more liable to failure, and thence less reliable. After a bitcoin price breakout the apex forms support and resistance areas for the btcusd crypto currency price. BTCUSD Crypto Currency Price that has broken out of the consolidation pattern shouldn't retrace past the apex zone. The apex of the Symmetrical Triangle cryptocurrency setup is used as a stoploss order setting area for the open trades.

When these Symmetrical Triangle cryptocurrency chart patterns form we say that the Bitcoin market is taking a pause before deciding which is the next direction to take.

These Symmetrical Triangle cryptocurrency patterns form when there's a tug of war between the buyers & the sellers & the btcusd market can't decide which way to continue.

Symmetrical Triangle Cryptocurrency Pattern

Symmetrical Triangle Pattern - What is Symmetrical Triangle Chart Pattern in Crypto Trading?

However, this Symmetrical Triangle cryptocurrency pattern can't go on forever & just like in a tug of war one side eventually wins, looking at the cryptocurrency chart below see how the Symmetrical Triangle eventually had a breakout and moved in one direction. Now how do we ensure that we are on the winning side?

Break-out Downwards Sell Bitcoin Trade Signal after a Symmetrical Triangle Bitcoin Chart Pattern in Bitcoin

Break out Downward Sell Bitcoin Trade Signal after a Symmetrical Triangle Bitcoin Chart Pattern in Bitcoin

Breakout Upward Buy Bitcoin Trade Signal after a Symmetrical Triangle Bitcoin Chart Pattern in Bitcoin

Breakout Upward Buy Bitcoin Trade Signal after a Symmetrical Triangle Bitcoin Chart Pattern in Bitcoin

Now back to the question, how do we make sure we are on side that's winning?

Well we wait til bitcoin price moves past one of the lines of the Symmetrical Triangle cryptocurrency chart pattern formation & put buy/sell orders in that particular direction. After consolidating, If bitcoin crypto currency price breaks-out upper line we buy, if it breaks-out lower line we open sell.

Alternatively if you do not want to wait out the Symmetrical Triangle cryptocurrency chart pattern, you can use pending crypto orders. If you would like to know more about setting pending orders navigate to the lesson: Stop Entry BTCUSD Crypto Currency Order Types

The two types of BTCUSD Crypto Currency stop order types used to trade Symmetrical Triangle bitcoin trading patterns are:

  • Buy Entry Stop Bitcoin Order An order to buy at a level which is above the btcusd market bitcoin price - above Symmetrical Triangle bitcoin trading chart pattern.
  • Sell Entry Stop Bitcoin Order An order to open sell at a level below the btcusd market bitcoin price - below Symmetrical Triangle bitcoin trading pattern.

These are cryptocurrency orders to buy above the btcusd market or to open sell below the btcusd market.

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