Ascending triangle
An ascending triangle is generally considered to be a continuation pattern, meaning that the pattern is significant if it occurs within an uptrend or downtrend. Once the breakout from the triangle occurs, traders tend to aggressively buy or sell the asset depending on which direction the price broke out.
In a sentence
The analyst identified an ascending triangle as the token repeatedly tested the same resistance level.
- The analyst identified an ascending triangle as the token repeatedly tested the same resistance level.
- A breakout above the ascending triangle prompted some traders to increase their positions.
- Volume rose as price moved beyond the upper boundary of the ascending triangle.
- The ascending triangle failed when the asset broke below its rising support line.
- Traders waited for confirmation before acting on the apparent ascending triangle.
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