Rising Wedge?

Two intersecting trend lines form a rising wedge, a bearish chart pattern. Trend lines rise and converge.

The first trend line connects recent lower highs and higher highs, while the second connects recent lows.

It resembles an upside-down triangle. Rising wedges fall.

Since the lower trend line is steeper than the upper one and the low is higher than the high, the rising wedge pattern is bearish.

Only the triangular angle and pattern varies between the falling wedges.

The rising wedge (ascending) pattern is bearish because it suggests a downtrend or price decline. The wedge reduces transaction volume.

Even though the wedge shows prices rising, trade volume is falling, which could indicate sellers are strengthening their positions for a negative breakout.

The collapsing wedge's bullish slope indicates a near-pattern rebound.

A rising wedge can be a continuation or reversal pattern.

Indicates

The rising wedge pattern usually follows long-term trends, making cryptocurrency trading straightforward.

If a trend is going too rapidly, the wedge pattern may indicate a change.

Buyers outnumber sellers, creating strong trends. Buyers and sellers negotiate prices.

Price must be raised swiftly when buyers outnumber vendors. This should attract more sellers.

If rising prices don't attract more sellers, prices will rise quickly. Strong uptrends from this swift transition attract more purchasers who don't want to miss out (known as FOMO, or fear of missing out).

The price will rise again after this strong trend takes hold and the huge crypto giants quit buying, bringing in FOMO purchasers.

New highs are followed by drops, which attract buyers. A "rising wedge" has formed, signaling a major market fall.