Traders use this classic trading pattern to determine when to ‘buy the dip’

Traders use various technical analysis tools to identify emerging trends and profitably trade that direction. One popular trend-defining pattern that traders often rely on is called the price channel.

An ‘ascending channel’ or a “bullish price channel” is formed by drawing parallel lines between the perceived support and resistance levels that an asset trades between on candlestick charts.

Ascending channel pattern. Source: TradingView
FTT/USDT daily chart. Source: TradingView
FTT/USDT daily chart. Source: TradingView
FTT/USDT daily chart. Source: TradingView
daily chart. Source: TradingView