is a and sometimes also act as Bilateral Pattern;
What is Bilateral Pattern : Bilateral Chart Patterns are triangular patterns; they signal either a continuarion or reversal of the current price movement, mainly it depends on how the price breaks the . There are three main types of Bilateral Chart Patterns;
1) , 2) , 3) Symmetrical Triangle.
An can be easily identified if you see a rising lower along with a flat resistance. Also have some shortcomings like it can occur false breakout and the price reverses. You need to see how strong the breakout was by looking at at the time of breakout and if the breakout is not strong enough you can exit the trade and before entering you need to manage risk accordingly.
Check Out other tutorials; (https://www.tradingview.com/chart/BTCUSD...), (https://www.tradingview.com/chart/BTCUSD...)
Stay Tuned 👍;
If you are relating this to the current Bitcoin market, you are wrong. Ascending triangles take on the trend they occur under. The current market is taking on a bearish ascending triangle. It COULD complete a trend reversal and turn into a bullish wave up, BUT we first need volume to show the reversal. Until then the trend is still bearish.