Don't Trade Patterns in 2024 - They are mostly FAKE

BTC has been trading in a triangle pattern on the daily timeframe. Many traders are trading pattern breakouts, for example, if the price breaks above the upper trendline of the triangle, they open a long position. However, in reality, all that happens is that liquidity is collected and the price moves lower. Then the same thing happens under the lower trendline support, and the price moves higher.

The dangers of pattern trading:

Pattern trading is a popular trading strategy, but it can be risky. Patterns can be deceptive, and they can often break in unexpected ways. This can lead to significant losses for traders who are not careful.

The rise of AI indicators:

Artificial intelligence (AI) is increasingly being used in trading. AI indicators can analyze vast amounts of data and identify patterns that are invisible to the human eye. This can help traders to make more informed decisions.

The benefits of AI trading:

AI trading can offer several benefits over traditional pattern trading. AI indicators can:

Identify patterns more accurately
React to market changes faster
Remove emotions from the trading process
The future of trading:

AI is likely to play an increasingly important role in trading in the future. AI indicators can help traders to make more informed decisions and reduce their risk. As AI technology continues to develop, we can expect to see even more sophisticated AI indicators that can help traders to profit from the markets.