A rising wedge in an up trend is usually considered a reversal pattern. This pattern is at the end of a bullish wave, by creating close price tops, shows us that the supply has intensified and there is a possibility of a trend change. Of course, nothing is certain and if the buyers are more willing and strong, this pattern may be broken in the direction of the market rise.
A rising wedge in the middle of a downtrend, is considered a corrective move and is known as a continuing pattern. For example, take a look at the above chart of Ethereum on the weekly time frame
A rising wedge in the middle of a downtrend, is considered a corrective move and is known as a continuing pattern. For example, take a look at the above chart of Ethereum on the weekly time frame
