The deception of the ascending triangle: my personal view

Wow! Another pattern to feed the hopes of newbies in this volatile market. I have been seeing these so-called "ascending triangles" for years and let me confess something: they are not the wonder that everyone paints them to be.

This much-vaunted pattern has its characteristics, yes: a horizontal resistance above that supposedly blocks us while the supports rise forming an ascending line below. Nice in theory, but reality is much harsher.

In my experience, these triangles fail more times than they succeed, especially when all the "experts" start pointing them out in their charts. I have lost money blindly trusting these patterns without analyzing the overall market context.

And what about that story that "the buying power is gradually strengthening"? Please! What I see are whales manipulating the market so that we enter confidently before they drive the price down. I've been fooled too many times by this.

Regarding the "mostly upward" breakout direction, I laugh every time I read it. Really? The crypto market does whatever it wants. I've seen bullish breakouts turn into deadly traps in a matter of minutes.

And that "target price" based on vertical height... another mathematical fantasy that rarely comes true in this manipulated market.

I'm not saying they never work, but before you rush to buy just because you see a triangle-shaped drawing, ask yourself who is on the other side waiting for your purchases to sell their coins.

The next time you see a "perfect" triangle, think twice. This market does not forgive those who blindly follow these patterns without considering the overall sentiment and fundamental factors.