#creatorpad , Analysis of Bitcoin. I believe that breaking the ascending triangle from the bottom is a strong signal of a possible change in direction from bullish to bearish.
Usually, the ascending triangle is considered a continuation pattern of the bullish trend, indicating that buyers are strong. However, when the ascending support line (the lower side of the triangle) is broken, it indicates that sellers have taken control of the market and selling pressure has increased.
What does this mean?
* Confirmation of the downtrend: As I mentioned, if the daily candle closes below the broken support line and bearish confirmation signals appear (such as an increase in trading volume on the downtrend), this increases the likelihood of the downtrend continuing.
* Risk management: Deciding to freeze bullish analyses and wait for better opportunities is a very wise step in risk management.
Important advice:
* Don't rush: Do not make your decisions based on just one break. It's always better to wait for the daily candle to close and confirm the signal through other indicators or trading volume.
* Avoid false breakouts: Sometimes "false breakouts" happen where the price drops for a short time and then quickly returns inside the pattern. Waiting for confirmation helps you avoid falling into this trap.
Always remember that technical analysis is not a 100% guarantee, and the cryptocurrency market can be unpredictable.
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