Triangle formations always precede breakouts! It is best with cryptocurrency to look for triangles on 4hr or 1hr charts, though sometimes one can find them on 1 day charts.
Like a series of waves getting smaller and smaller until the shape is formed, triangles must have three complete waves to accurately precede a breakout.
Here you can see the three waves forming the triangle structure and the breakout downwards.
The breakout immediately continued until the price hit the RSI 30 mark - oversold.
The signal line crossed the MACD line marking a bearish reversal as well.
I am not currently invested but wanted to offer this post as education.
Like a series of waves getting smaller and smaller until the shape is formed, triangles must have three complete waves to accurately precede a breakout.
Here you can see the three waves forming the triangle structure and the breakout downwards.
The breakout immediately continued until the price hit the RSI 30 mark - oversold.
The signal line crossed the MACD line marking a bearish reversal as well.
I am not currently invested but wanted to offer this post as education.