Fetch AI consolidates within a bullish triangle pattern [Video]
![Fetch AI consolidates within a bullish triangle pattern [Video]](https://editorial.fxstreet.com/images/Markets/Currencies/Cryptocurrencies/cryptocurrencies_XtraLarge.jpg)
Fetch.AI with ticker FETUSD is trading sideways after a completed wave (3) back in March 2024, so it’s most likely moving within a bullish ABCDE triangle pattern in wave (4) that can take a little bit more time before a bullish breakout into a wave (5) in 2025.
FETUSD Daily Chart
A triangle appears to reflect a balance of forces, causing a sideways movement that is usually associated with decreasing volume and volatility. The triangle pattern contains five overlapping waves that subdivide 3-3-3-3-3 and are labeled A-B-C-D-E. It’s a region of horizontal price movement, a consolidation of a prior move, and it is composed of “threes.” That means each of the A-B-C-D-E waves have three subwaves. The triangle pattern is generally categorized as a continuation pattern, meaning that after the pattern completes, it’s assumed that the price will continue in the trend direction it was moving before the pattern appeared. However, triangles also indicate that the final leg is coming before a reversal and that’s why triangles are labeled in wave B, wave X or wave 4.
Basic Bullish Triangle Pattern – Trading Setup #1
Basic Bullish Triangle Pattern – Trading Setup #2
For more analysis like this you may want to watch below our latest recording of a live webinar streamed on January 06 2025:
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Author
Gregor Horvat
Wavetraders
Experience Grega is based in Slovenia and has been in the Forex market since 2003.
