Learned this trick from a great Twitter account AltcoinPsycho. (alt + i) inverts your chart to challenge your bias. I'm sure everyone knew this but me. For me, it's a great way to challenge my trend interpretations.
Yes - but if you put this on a line chart a bullish (ie _BEARISH) ascending triangle turns into a bearish (ie_BULLISH) rising wedge. Just depends on what shapes and patterns you choose to draw and what lines you want to connect. BTC is always 50/50 from any given consolidation area.
@CryptoTraderMark10, yes, not a good idea to short this based on triangles and patterns, lmao!
readyplayer9
⋅
@LotusTrading20, when the chart is inverted, a short position would rise and a long position would fall
readyplayer9
⋅
@LotusTrading20, if you're speaking to the method of forming a position, short or long, triangles and patterns help better define support and resistance zones - ie ranges. not sure why anyone wouldn't want a clearer picture of market structure when forming a position. good luck
LotusTrading20
⋅
@readyplayer9, i dind't express myself right. What i meant is patterns are usefull as you say to paint a context of structure , but of very litle use for "guessing" direction. What i mean is no matter the charts, drawings, inverted or normal chart, this is a bullish market as of now! charts and drawings have uses for sure, i use them too. good luck