Traders use this classic trading pattern to determine when to ‘buy the dip’

Cointelegraph

Published Sep 02, 2021 05:45PM ET

Updated Sep 02, 2021 07:20PM ET

Traders use various technical analysis tools to identify emerging trends and profitably trade that direction. One popular trend-defining pattern that traders often rely on is called the price channel.

An ‘ascending channel’ or a “bullish price channel” is formed by drawing parallel lines between the perceived support and resistance levels that an asset trades between on candlestick charts.

Ascending channel pattern. Source: TradingView
FTT/USDT daily chart. Source: TradingView
FTT/USDT daily chart. Source: TradingView
FTT/USDT daily chart. Source: TradingView
BTC/USDT daily chart. Source: TradingView

Continue Reading on Coin Telegraph