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Crypto pattern chart

If you connect all the points with lines, you get a zigzag, narrowing towards the end. As its name implies, the pattern is made up of two consecutive tops that are roughly the same in size, with a small trough in between. In this case, the head is the exit point from the market flat before the growth phase. A Head and Shoulders pattern forms after an uptrend, and it indicates trend reversal.

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However, the most significant blow for crypto in was triggered by the collapse of FTX in November. This was a major cryptocurrency exchange which handled. The U.S. Federal Reserve's stance on interest rate hikes has moved the crypto market upside down. Bitcoin crossed the level of $31, in July.

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After its formation, the price of the instrument is expected to rise. There are several ways to identify a falling wedge. As its name implies, the pattern is made up of two consecutive bottoms that are roughly the same in size, with a small peak in between. A bearish ascending wedge is formed similarly to a bullish one. The difference is that a price channel slopes up or down and is a true continuation pattern. For example, if a bullish chart pattern forms at a support level identified by a moving average, it reinforces the bullish bias. If a diamond forms an uptrend, the price may fall right after it.