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cRYPTO Glossary
Explore essential terms and concepts in the world of cryptocurrency, blockchain, and trading
A
Ascending Channel
An ascending channel is a trend continuation pattern characterized by ascending price action.
Explanation of Specific Terms:
- Trend continuation pattern: A technical analysis pattern that suggests the current trend is likely to continue in the same direction.
- Ascending price action: Refers to price movements where successive highs and lows form a rising channel or channeling pattern.
- Channel: A technical analysis tool that outlines the range within which a stock or other asset has been trading.
Key Points for Beginners:
- Why it's important: Ascending channels provide visual cues to traders about potential buying opportunities within an uptrend and can help set price targets and stop-loss levels.
- How it works: Traders identify ascending channels by drawing trendlines connecting the successive higher lows and higher highs. The upper trendline acts as resistance, while the lower trendline acts as support. Traders often look for opportunities to buy near the lower trendline and sell near the upper trendline.
Valdis Zhvaginsh
Crypto Enthusiast, CWT Editor
Hello, I'm Valdis
When I began exploring cryptocurrencies, I had many questions. Over time, I've gathered some of the best resources that helped me, and I believe they can be useful to you as well.
I hope these resources assist you in starting your journey into the world of cryptocurrencies and provide useful tools for everyday tasks.
If you have any suggestions or corrections, please contact me
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