What is the triple top pattern in crypto?

The triple top pattern is a significant indicator in technical analysis, signaling a potential shift in market sentiment. This candlestick pattern is considered bearish, as it a reversal from an existing uptrend to a downrend. Investors and traders often pay close attention to such patterns, as they can provide cruel insights into future market movements.

To form a triple top pattern, the market must create three distinct peaks at similar price levels. These peaks represent periods of resistance, where the upward momentum of the market is temporarily halted. Each peak is followed by a pullback, but the overall trend remains upwards until the final peak is formed.

After the third peak, a crucial event occurs: a breakout below the support level. This support level is formed at the pattern's lowest points, which are the valleys between the three peaks. The breakout signifies that the market has lost its upward momentum and is now poised to move downwards.

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