KRAKEN:ETHUSD   Ethereum / U.S. Dollar

This type of triangle chart pattern occurs when there is a resistance level and a slope of higher lows.

What happens during this time is that there is a certain level that the buyers cannot seem to exceed. However, they are gradually starting to push the price up as evident by the higher lows.
Buying signal for us is a bullish breakout of resistance and market should close above structure.

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The price did reach and break the triangle top line before falling back down; making this more of a wedge than a triangle in my opinion
+1 Reply
@SylTi, yeah I agree with such view. For me it was just false breakout
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