* Upper Resistance Line: The upper resistance line formed with three successively lower peaks.
* Lower Support Line: The lower support line formed with two successive lower lows.
From the High of 0.0014 set in late May, down to the Lows of 0.0006 in mid-June, USTC is now displaying the Falling Wedge pattern, a bullish pattern that begins wide at the top, and contracts as prices move lower.
Regardless of the type (reversal or continuation), falling wedges are regarded as bullish patterns.
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Falling Wedge (Reversal) is a bullish pattern that begins wide at the top and contracts as prices move lower.
This price action forms a cone that slopes down as the reaction highs and reaction lows converge. In contrast to symmetrical triangles, which have no definitive slope and no bias, falling wedges definitely slope down and have a bullish bias.
Regardless of the type (reversal or continuation), falling wedges are regarded as bullish patterns.
* Upper Resistance Line: The upper resistance line formed with three successively lower peaks.
* Lower Support Line: The lower support line formed with two successive lower lows.
From the High of 0.0014 set in late May, down to the Lows of 0.0006 in mid-June, USTC is now displaying the Falling Wedge pattern, a bullish pattern that begins wide at the top, and contracts as prices move lower.
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