Key takeaways
The Bitcoin megaphone pattern features at least two higher highs and two lower lows, forming an expanding structure.
Connecting these highs and lows with trendlines creates a megaphone-like appearance, reflecting market instability.
The formation signals heightened volatility, with price swings becoming more pronounced over time.
Depending on the trend direction, the pattern can indicate potential breakouts either upward (bullish) or downward (bearish).
The megaphone pattern, also known as a broadening formation, is a technical analysis chart pattern that traders observe in various financial markets, including cryptocurrencies like Bitcoin.
This pattern is characterized by its distinctive shape, resembling a megaphone or an expanding triangle, and signifies increasing volatility and market indecision. Here are its defining characteristics:
Higher highs and lower lows: The pattern consists of a ..
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