Bybit On-Chain Earn offers hassle-free crypto staking with low minimums, flexible terms, and competitive rewards. Stake Solana or Ethereum easily and earn passive income!

 on blockchain networks that are based on a 

 (PoS) block validation model can be a great way to 

. Cryptocurrency staking is often regarded as one of the most stable and secure ways to use your crypto funds. Unfortunately, direct staking on PoS networks requires significant financial commitments, along with technical expertise to set up and run a validator node. 

Bybit On-Chain Earn is an innovative service that allows any crypto user to participate in decentralized crypto staking and earn rewards without the need for hefty minimum collateral, technical proficiency and significant hardware requirements that are normally required in direct staking on PoS blockchains. On-Chain Earn allows any crypto user to contribute to the security of established blockchain networks and earn stable rewards in an affordable, flexible and hassle-free way.

 is a user-friendly staking service that lets you stake cryptocurrencies on leading blockchain networks and earn stable, competitive 

 rates without significant amounts of collateral, technical expertise or high-spec hardware that are normally required for direct blockchain staking. 

By staking via On-Chain Earn, you can earn crypto income while contributing to the security and efficiency of leading blockchain platforms, such as 

APR rates earned through Bybit On-Chain Earn are largely determined by the underlying blockchain network on which the funds are staked. The specific rates depend upon various factors, such as the total amount staked on the blockchain, transaction volumes and the network’s native cryptocurrency inflation rate. 

Bybit On-Chain Earn features modest minimum staking requirements. To begin staking, you only need 0.1 in the respective cryptocurrency being staked — e.g., 0.1 SOL ($22.57 as of Dec 2, 2024) to stake on the Solana blockchain. Minimum redemption amounts are also modest, and vary based on the chosen blockchain. There are also maximum staking and redemption amounts, which also vary according to the blockchain network. Detailed information on the current minimum and maximum amounts is posted and regularly updated on each network’s dedicated staking and redemption pages on the On-Chain Earn platform. Another great feature of Bybit On-Chain Earn is the ability to redeem staked funds at any time.

From  Nov 28, 2024, 12AM (midnight) UTC to Dec 31, 2024, 11:59PM UTC, Bybit is hosting the 

 from a 100,000 USDT prize pool. To join, simply stake SOL on Bybit On-Chain Earn to mint bbSOL, and then hold your bbSOL for at least 24 hours to qualify for a daily bonus of 14.95% in SOL. The longer you hold your bbSOL, the more daily bonuses you accumulate, providing greater rewards compared to simply holding SOL alone.

Bybit On-Chain Earn is a more flexible and user-friendly way to stake crypto than direct staking on blockchain platforms. Direct staking on blockchains usually requires substantial financial and technical commitments. Typically, PoS blockchains award staking rewards to 

 responsible for processing blocks of transactions on the chain. In order to operate a full validator node and earn staking rewards, you need to run a fairly powerful machine, even if theoretically, you could use a conventional computer in many cases.

Competition among validators on major blockchains for the right to process transaction blocks and earn staking rewards is so intense that low-spec machines are unlikely to suffice. Some networks also explicitly ask for powerful, expensive hardware as a minimum technical requirement to join as a validator. Additionally, validator nodes are encouraged to be online at all times, with frequent downtimes carrying the risk of slashing, whereby you end up losing some part of your staking collateral. 

The collateral required is also significant, in most cases running into hundreds of thousands or even millions of dollars. For instance, Ethereum requires minimum collateral of 32 ETH (slightly over $117,000 as of Nov 28, 2024), while Solana doesn’t specify any explicit minimum collateral amount. However, the fierce competition between validators on its blockchain means that you’ll need a substantial amount not to go broke running a Solana validator node. Some estimates suggest that just to break even (let alone make profit), a small-scale Solana validator would need at least 40,000 SOL ($9.14 million as of Nov 28, 2024).

With a minimum staking requirement of just 0.1 in each respective coin (e.g., 0.1 ETH or 0.1 SOL), no requirement for powerful hardware and no need to set up and run a validator node, Bybit On-Chain Earn is undoubtedly a more affordable, flexible and realistic way for crypto users to benefit from staking opportunities.

Key benefits of Bybit On-Chain Earn include the following:

Naturally, any investment activity, including staking, has certain risks associated with it. The risks of staking via On-Chain Earn may include the following:

Staking crypto on PoS chains is one of the most stable and rewarding ways to earn income in the blockchain industry. Direct staking by running a validator node is typically beyond the reach of most crypto investors, due to the significant (to put it mildly) financial and technical requirements. Bybit On-Chain Earn lets you access the world of staking without all these hefty and inflexible requirements. 

Thanks to On-Chain Earn, crypto users can now earn competitive APR rates in a way that’s accessible to anyone with a computer, a modest initial investment, a 

 — and the willingness to help keep popular blockchains running! 

Intermediate

Bybit On-Chain Earn .png

Bybit On-Chain Earn: A Hassle-Free Crypto Staking Solution

TROY AI merges blockchain and AI to give individuals full control over their personal data, empowering them in an era in which privacy is often compromised.

In today’s digital age, personal data is a valuable commodity, often exploited without users receiving fair compensation or having control over how it’s used. This has sparked a growing demand for platforms that prioritize transparency, security and user empowerment. TROY AI steps into this gap, offering a decentralized solution that gives people control of their data while unlocking the potential of cutting-edge consumer AI technology.

This article explores how TROY AI aims to revolutionize the digital landscape. We’ll delve into its mission, unique features, robust ecosystem and thoughtfully designed tokenomics.

 is a decentralized ecosystem for user-controlled AI applications and data management. It focuses on user empowerment, providing a marketplace for AI tools and enabling secure data ownership through 

Originally known as Troy Network, TROY AI was co-founded by Clark Tong, a passionate tech visionary and blockchain expert. The platform evolved from its crypto trading roots to its current focus on consumer AI technology.

The core idea behind TROY AI is to create a decentralized platform that gives users full control over their data. TROY AI combines blockchain technology with the power of AI to provide a secure marketplace for accessing a variety of AI tools, all while ensuring that data ownership stays with the individual. The platform is committed to driving innovation in the AI sector, using blockchain to build a transparent and user-centric environment.

TROY AI is on a mission to put users in control of their data, ensuring they retain ownership and benefit directly from their contributions. In an age when personal data is highly sought after and often exploited without fair compensation, TROY AI aims to change the game.

Using blockchain technology, the platform ensures transparent governance and introduces strong mechanisms to prevent data misuse. This innovative approach helps build trust and confidence throughout the ecosystem, creating a safer, more equitable environment for users.

TROY AI is developing a decentralized marketplace for consumer AI tools — a hub for innovation and collaboration. This secure environment is designed to drive AI development while sparking creativity among users and developers alike. 

With these initiatives, TROY AI aims to reshape the digital world, empowering consumers and transforming how data is managed and used.

TROY AI blends blockchain technology with advanced AI innovations to power its platforms, TROY Play and TROY TRADE. Its robust tech stack includes the following:

Together, these innovations help TROY AI create an intuitive, responsive and adaptable platform, putting powerful AI tools in the hands of users while ensuring data security through blockchain technology.

To safeguard user data, TROY AI integrates decentralized confidential computation layers. This ensures privacy, maintains compliance and fairly redistributes value to data contributors. TROY AI puts people first, prioritizing security and user trust to deliver innovative solutions.

 is a key component of the TROY AI ecosystem that’s designed to empower developers and users alike. It functions as both a marketplace for consumer AI applications and a management platform for AI agents. Accessible through 

, the platform simplifies data exchange and ensures fair value distribution.

Users can import AI agents from different environments, publish them on-chain and easily edit their properties. Looking ahead, TROY Play has ambitious goals to support over 100 consumer AI agents and onboard 10 million users within the next three years, solidifying its role as a leader in consumer AI innovation.

 is a unique membership system for TROY token holders, combining aspects of 

. It gives users a chance to actively shape the future of TROY AI while enjoying a range of benefits.

Members receive a special TROY ID that unlocks exclusive perks, such as special governance rights, early access to TROY AI Agents and participation in the TROY TRADE launchpad. Users can also earn 

 rewards, making participation in TROY DAO a dynamic and rewarding community experience.

 is a launchpad and asset management platform designed for decentralized AI projects listed on TROY Play. It supports the growth of innovative AI and crypto initiatives by providing a supportive environment for their development.

Key features include a staking mechanism that allows users to earn tokens from selected projects, and a rigorous selection process to maintain high standards. With a strong focus on community involvement through TROY DAO, TROY TRADE ensures transparency and promotes collaborative development.

TroyPump, a meme distribution platform launched by TROY, is built on BNB Chain. Its goal is to create impactful meme intellectual property (IP) that resonates within the digital world.

Backed by the upcoming TROY Meme Foundation, 

 offers incentives for meme tokens, encouraging innovation and growth within the meme culture ecosystem. The platform aims to set new standards for meme culture while enhancing ecological support for meme projects, fostering a thriving space for creativity and development.

TROY AI has made remarkable progress in both the AI and blockchain sectors, achieving key milestones that are setting the stage for further innovation:

Looking ahead, TROY AI has ambitious plans to continue reshaping the AI landscape:

These initiatives are designed to drive growth and innovation, further establishing TROY AI as a leader in the consumer AI market.

The TROY token is the backbone of the TROY AI ecosystem. It powers its operations and enables seamless user interactions. As the ecosystem’s native token, TROY serves multiple purposes that make it indispensable for participants. First, TROY functions as a medium of exchange, facilitating ease of transactions across the platform. For traders, the token offers additional perks, such as reduced trading fees. This makes TROY especially valuable for frequent traders and high-volume institutional investors.

TROY also plays a key role in staking and rewards. Users can stake their tokens to earn incentives, gain access to exclusive features and actively participate in governance decisions. Token holders enjoy voting rights, giving them a say in the ecosystem’s future direction and ensuring that the platform grows with the TROY AI community’s interests in mind. 

Beyond these uses, TROY serves as a catalyst for innovation by incentivizing developers and users to actively contribute, thus creating a vibrant and collaborative environment that drives TROY AI’s growth.

TROY’s tokenomics are carefully structured to ensure sustainability and support for the ecosystem. The total supply of TROY tokens is capped at 10 billion, with allocations designed to meet various needs: 

This strategic tokenomics approach ensures that TROY remains an essential driver of innovation and sustainability within the TROY AI ecosystem.

According to CoinCodex, based on a detailed analysis of market trends and technical indicators, 

 to reach approximately $0.012358 by 2025 and $0.013469 by 2030, while Meanwhile, analysts at CoinLore are 

 could hit $0.0111 by 2025 and $0.0245 by 2030. 

Looking to trade TROY AI tokens? Bybit now offers the TROYUSDT Perpetual contract for trading. To get started, you’ll first need to create a Bybit account, then fund it with cryptocurrency and navigate to the 

TROY offers an exciting investment opportunity, thanks to its innovative ecosystem and real-world use cases. By combining blockchain technology with AI, it addresses growing demands for user empowerment and data security — two critical trends in today’s digital landscape. Its focus on creating a decentralized, user-centric platform gives it a competitive edge in the fast-moving AI and blockchain markets.

TROY’s tokenomics are thoughtfully structured, allocating resources for ecosystem growth, staking rewards and marketing efforts. This strategic design ensures sustainability while encouraging community involvement. Price predictions for TROY vary, but its ambitious road map, which includes partnerships, AI development grants and integration across major blockchains, signals strong potential for long-term growth.

As with any investment, it’s important to consider both the opportunities and the risks. TROY’s innovative features and active community support make it a compelling choice, but potential investors should evaluate market conditions and their own financial goals before diving in.

TROY AI is transforming the worlds of AI and blockchain by putting users in control of their data and providing access to cutting-edge AI tools. Through its decentralized marketplace and secure data management solutions, the platform empowers individuals while encouraging innovation. With a bold vision for the future, TROY AI is paving the way for a new era of digital transformation, positioning itself as a key player in changing how we interact with technology.

troy dao, troy, troy network.png

TROY AI (TROY): Empowering Decentralized AI Ecosystems

Ripple's new stablecoin, RLUSD, is set to launch on December 4, pending approval from the New York Department of Financial Services (NYDFS).

The S&P 500 hit a record high, rising 5.7% in November, driven by post-election optimism and economic resilience. Key data and Fed speeches are awaited this week. Coindesk Indices, an index measuring broader cryptocurrency market performance was up by 2.88%, with Bitcoin and Ether rising by 0.80% and 0.67%, respectively in the past 24 hours.

Today's top performer is IOTA, which surged 37.0% following the launch of the Rebased proposal, featuring staking rewards and fee reductions.

IOTA (IOTA), founded in 2015, is an open-source, scalable distributed ledger designed to facilitate seamless, feeless value and data transfers between humans and machines, supporting the Internet of Things (IoT) with minimal infrastructure. It aims to drive the next industrial revolution by enabling machine economies and financial interactions. IOTA's Rebased proposal introduces staking rewards, fee-burning, and reduced network fees to build a sustainable, scalable ecosystem. 

Check Out the Latest Prices, Charts, and Data of 

, is set to launch on December 4, pending approval from the New York Department of Financial Services (NYDFS). The overcollateralized dollar-pegged stablecoin will offer a stable alternative amidst Ripple’s ongoing legal battle with the SEC over XRP. Ripple partnered with major exchanges like Bitstamp, MoonPay, and CoinMENA for the stablecoin's launch. The RLUSD will be issued by Standard Custody & Trust Company, a subsidiary Ripple acquired in June. Ripple plans to use RLUSD and XRP for cross-border payments and will conduct regular third-party audits of the stablecoin's reserves.

The BTC Spot ETF data shows total transactions fluctuating over several days, with a significant decrease on November 25th and 26th. On November 27th, non-GBTC transactions reached $103 million, followed by a sharp increase on November 29th to $320 million. The total transactions during this period were negative, primarily driven by GBTC movements. The current total stands at approximately $51.2 billion.

: the Styreal Badge, which requires completing social tasks, installing the Styreal app, connecting MetaMask, buying a share, and claiming the badge, and the Poster Badge, which involves following the project, creating an image on the Poster dapp, minting it on the Story testnet, and claiming the badge. Minting may occasionally fail, but you can retry later. Remember, the Story Testnet badge minting closes on December 8th, so don’t miss out!

Beginner

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Ripple's RLUSD Stablecoin Launches December 4

Dec 2, 2024: Our weekly Institutional Insights explores the latest market developments — market performance, industry news, exchange-traded fund (ETF) flows, trending topics, upcoming events and token unlocks — to help you supercharge your crypto trading.

 explores the latest market developments — market performance, industry news, exchange-traded fund (ETF) flows, trending topics, upcoming events and token unlocks — to help you supercharge your crypto trading.

Weekly Highlight — U.S. Economy Growth Driven by Improved Productivity

If U.S. economic growth is strong, why is the Federal Reserve considering interest rate cuts? This question was recently posed to Fed Chair Jerome Powell. Instead of focusing solely on the Fed's actions, we should explore the reasons behind the robust growth, and see how it can be sustained.

Real GDP is expected to exceed pre-pandemic levels for the second consecutive year. Typically, strong growth raises concerns about overheating, but inflation has actually fallen. Recent growth is largely due to increased productivity and a growing workforce, which are not inflationary and can help rebalance supply and demand.

A significant factor behind this success is the rise in labor productivity, averaging 2.3% over the past two years — faster than the four years before the pandemic. This uptick is linked to a surge in new business applications, especially in the tech sector, as the pandemic's economic shifts and relief measures lowered barriers to entrepreneurship, particularly benefiting underrepresented groups.

The boost in productivity also reflects workers moving to roles better suited to their skills, a trend accelerated by the 

. This mobility has been essential for productivity gains, as higher job turnover correlates with increased business dynamism.

However, sustaining higher productivity is a challenge. The Fed must avoid overly restricting the economy, as high interest rates can deter investment in technology. Additionally, a gradual cooling of the labor market, with declining job quits, is concerning.

For policymakers, monitoring labor market dynamics and business formation is crucial. If these indicators decline, productivity and growth could wane. The U.S. economy has made significant progress, and maintaining this momentum is essential.

Weekly Crypto Highlight — Sui Is Poised for Growth

Bybit has released the Sui ecosystem report, with its key takeaways below. (Read the full report 

: Sui has achieved impressive performance, processing over 297,000 transactions per second (TPS) while maintaining low latency. This positions it among the fastest blockchains available.

: In 2024, Sui's market capitalization skyrocketed over 1,000%, reaching $9.5 billion and reflecting strong investor confidence and growing adoption.

: The total value locked (TVL) in Sui’s DeFi ecosystem has surpassed $1.5 billion, ranking it 11th among major blockchain networks and highlighting its rapid growth in 

: The launch of the Grayscale Sui Trust has significantly increased institutional interest, resulting in an 89% price surge for the SUI token in Q3 2024, indicating its appeal to accredited investors.

: Sui is making strides in the gaming sector, introducing the SuiPlay0X1 handheld gaming device and various 

, enhancing user engagement and expanding its ecosystem.

Developed by Mysten Labs, Sui is a Layer 1 

 (PoS) blockchain launched on May 3, 2023. Its object-centric data model allows for parallel transaction processing, enhancing throughput and reducing latency. Its use of the Move programming language ensures resource safety through rigorous bytecode verification, mitigating common blockchain vulnerabilities.

: Partnerships with firms like Copper and Zero Hash strengthen Sui’s infrastructure and credibility in the financial sector, enhancing its offerings in digital asset custody and transaction facilitation.

: Sui’s DeFi sector is thriving, with leading protocols like 

 offering diverse financial services. In gaming, initiatives such as the SuiPlay0X1 device and various web3 projects bolster user engagement.

In summary, Sui is poised for continued growth, driven by technological innovations that are expanding its presence in both DeFi and gaming.

Advanced

Bybit Institutional_Weekly Poster (36).png

Weekly Institutional Insights: Sui Poised for Growth; U.S. Economy Driven by Productivity Growth

Candlestick

Trading

A rising wedge signals a future falling price or a breakout to a downtrend is approaching. But is it reliable? Master how it works in 10 mins!

Rising-Wedge-Pattern-How-to-Identify-the-Selling-Opportunity.jpg

Due to its straightforward entry and exit guidelines, the rising wedge pattern is a favorite chart formation of many technical crypto traders. The rising wedge can alert traders to an upcoming top and reverse prices, as the pattern contains a distinct formation.

The rising wedge carves on all chart time frames and can develop quickly, making it difficult to spot in real-time. We’ll guide you through what the pattern looks like and how to use it for generating sell signals.

A rising wedge is a bearish chart pattern consisting of two converging trend lines, with the first line connecting the recent lower highs and higher highs, and a second trend line connecting the recent lows. 

The resulting shape looks like a triangle that is angled upward. The opposite of a rising wedge pattern is a falling wedge.

The rising wedge pattern can be interpreted as a bearish wedge as the low is overtaking the high in which the lower supporting trend line is steeper. Though the falling wedges have a similar shape, the only differences being the slope of the triangle and the implied result of the pattern.

The rising wedge (ascending) pattern in which the trading volume decreases as the wedge progresses signals the future falling prices or a breakout to a downtrend, making it a bearish pattern. The decreases in trading volume could suggest that sellers are consolidating their power for a bearish breakout despite the wedge captures the price action moving higher.

On the other hand, the falling wedge (descending) pattern has a negative slope, slanting downward and implying a rally forming nearby, making it a bullish pattern. However, the interesting part is that a rising wedge can occur during a downtrend as a continuation pattern or during an uptrend as a reversal pattern. 

The rising wedge pattern’s shape resembles that of a slice of pizza, formed when two trend lines are converging. The rising wedge pattern carves a series of higher highs and higher lows.

The resistance trend line needs to cover the extreme high points of the pattern. A minimum of two higher highs is needed for the resistance line. 

Similarly, draw a support trend line covering the higher lows. You’ll need at least two swing low points to draw the support trend line.

 trend lines, you should see a triangular shape that also looks like a wedge. A key detail of the rising wedge pattern is that the apex of the triangle needs to be pointed upward. Thus, the resistance trend line must slope upward to validate this as a rising wedge pattern.

The rising wedge pattern is generally observed after long trends, which means it can be quite useful for cryptocurrency trading. For instance, if a crypto trend has moved too far too fast, the wedge pattern may appear as a warning signal of an upcoming trend reversal.

Strong trends are the result of an imbalance between buyers and sellers. At each price, buyers and sellers are transacting. If there’s an imbalance with a lot of buyers and no sellers, then the price must readjust quickly to higher levels, which will hopefully attract more sellers into the marketplace.

If the higher pricing fails to draw in more sellers, then the price will continue to quickly readjust higher. This swift readjustment creates strong uptrends that begin to attract more buyers, who fear missing out on a powerful trend (known as FOMO, or fear of missing out).

Once this strong trend has developed, and large crypto whales are no longer interested in buying, the price will begin to correct, drawing in the FOMO buyers. Each new high sees another correction, drawing in more buyers. 

At this point, the rising wedge pattern has formed and the market is ripe for a large correction.

The rising wedge — also called an ascending wedge — is a bearish reversal pattern. This means that after the pattern completes, you can expect the market to reverse direction. As the rising wedge pattern trends upward, a bearish reversal looms nearby, changing the trend’s direction from upward to downward.

The opposite of a reversal pattern is a continuation pattern. Continuation patterns manifest as an interruption of the larger trend. Reversal patterns, however, form at the end of trends, after which the market changes direction.

There are some similarities between a wedge pattern and a 

 that may confuse crypto traders. However, there are differences that allow the trader to distinguish one from the other so they can better determine the market’s next path.

Wedge and triangle patterns both have triangular shapes because of the converging resistance and support trend lines that contain them. The major difference is that wedges form in the direction of the larger trend — upward or downward — while triangles form sideways, or horizontally. In the rising wedge example above, both the resistance and support trend lines are converging as they ascend. Similarly, the falling wedge has resistance and support trend lines that are converging as they descend.

Still, the triangle pattern has converging resistance and support trend lines, but the resistance trend line is either descending or horizontal, while the support trend line is either ascending or horizontal. 

As a result, wedges are reversal patterns, while the triangle is a continuation pattern.

What Happens After the Rising Wedge Pattern Appears?

The rising wedge appears at the end of a trend. Therefore, the next move after the ascending wedge pattern forms is a bearish reversal. 

The bearish reversal can be confirmed when the market falls below the support trend line. On many occasions, the market will correct back to the level of the origin of the rising wedge pattern.

Spotting a Rising Wedge Pattern on a Crypto Chart

The rising wedge pattern appears after a long and mature uptrend, signaling a potential reversal.

From Sept 2020 to Jan 2021, the ETH rocketed from around $300 to $1,300 in a long, strong uptrend.

The next example has two illustrations in it.

First, notice how the price action turns sideways in late January 2021. This is a triangle pattern with converging horizontal and ascending trend lines. Newer traders might mistake this pattern as a wedge. However, although it looks like a wedge, the resistance line is basically horizontal-to-downward sloping. This is a dead giveaway of a continuation triangle pattern — not a rising wedge.

Once this pattern completes, ETH begins to rally at the start of a rising wedge pattern.

Beginning Jan 31, ETH price begins to rally in choppy waves — i.e., when new highs are formed, then immediately met with a corrective trend. These choppy waves make upward progress, but it’s slow and overlapping.

When you see these choppy and overlapping waves, the next step is to add your trend lines to the pattern.

The resistance trend line is drawn so that it covers the high points of the choppiness. The resistance trend line should slant higher, as the prices are making a series of higher highs. If the resistance trend line isn’t slanting higher, then this isn’t a rising wedge pattern — and some other pattern is forming.

Once the upward sloping resistance trend line is in place, it’s time to draw the support trend line. This is drawn connecting the low points of the choppiness. The support trend line should also slant higher, as the pattern stair-steps upward, forming higher lows. If the support trend isn’t angled higher, then some other pattern is forming, different from an ascending wedge.

Now, if you have both support and resistance lines angled higher, then check to see if they’re converging. At some times this convergence is more obvious than at others. The easiest way to determine if the two trend lines are converging is by extending each of the lines to the right. If they cross each other in the future, then they’re converging — and this is a rising wedge pattern. If they don’t eventually intersect, then some other pattern is forming.

Within an ascending wedge valid pattern, you’ll find the following:

If you spot a pattern with each of these ingredients, the chances are strong that you’re looking at an ascending wedge pattern.

There are a couple of other items you might see as well, though these are guidelines and not guarantees. 

Add an oscillator to the bottom of your chart, such as the 

 (RSI) indicator. If the RSI is showing divergence, it’s another clue that this is a rising wedge pattern.

Oscillator divergence is created when the price makes a higher high, yet the oscillator makes a lower high. The price is said to be diverging from the oscillator, as the two aren’t in sync.

Another clue you may be witnessing an ascending wedge pattern may be found in the cryptocurrency’s volume.

If the volume is falling as the wedge pattern advances, then this indicates bullish whales are no longer supporting the price. In circumstances like this, the market is mature for a reversal.

One of the most obvious and lucrative rising wedge patterns in crypto was formed by Bitcoin going into April 2021. You may recall that Bitcoin was in a monster uptrend from the March 2020 pandemic low into 2021 high. It rose nearly 1,600% over this period, with bullish predictions forecasting immediate trends up pricing.

When rosy market sentiment is making traders feel positive with forecasts of skyrocketing price levels, that is an ideal spot for the ascending wedge pattern to appear. Rising wedge patterns are notorious for appearing at the end of large rallies that have carried on for too long.

After completing the bulk of the rally in early January 2021, Bitcoin began to correct for the last part of the month. Beginning in late January, Bitcoin rallied again, but this rally becomes choppy and overlapping.

The rally begins to lose momentum, and divergence with the RSI indicator appears, symptomatic of rising wedge patterns.

The resistance and support trend lines within the pattern fit the definition, as both are rising and converging. Each of these clues is present to signal the trader that a top is forming — and to be on the alert for a bearish reversal.

Trading the bearish reversal is quite easy. As the trend is shifting from up to down, the trading opportunity is to short sell the market or close out of your long positions.

The trigger for the short entry will be a break of the support trend line. Some traders will wait for the candle to break and close below the trend line before entering the trade. Other traders sell short once the price has breached the trend line by a specified amount, like 50 or 100 points.

Still, it is preferable to selling short once a specified level below support has broken. The reason is that crypto markets tend to fall and crash fast. If you wait for the candle to close, you could be missing out on a better entry point.

Once support breaks, the market is giving you a big clue: the mood of the uptrend is beginning to change to that of a downtrend.

 for a short trade will be placed just above the recent swing high. If the market breaks the support trend line and rallies up to new highs, then some other pattern is playing out and the rising wedge has failed.

Most of the time, successful rising wedge patterns will see the market correct back to the original level of the formation. In this case, the pattern begins on January 27, 2021, at $29,250. Therefore, a successful rising wedge pattern will drive Bitcoin prices lower, back to $29,000.

In hindsight, we can see that this pattern has played out well: within one month of the signal confirmation (by mid-May), Bitcoin corrects back to the origination of the pattern.

Though the rising wedge pattern can signal excellent short sell opportunities, the pattern is not 100% accurate and there are some limitations to be aware of.

First of all, the ascending wedge pattern can carve rather quickly, yet it’s difficult to confirm until the pattern has progressed nearly 2/3 of the way to completion. This means you’ll need to constantly review the market to make sure the clues and indications of the rising wedge are present.

Once the pattern is displaying many of the specified markers, then you can set up the short-sell trade opportunity as trend line breakout below the support levels. Though the pattern is easy to spot, it can be a challenge to catch it while it’s forming, as you typically won’t see the clues develop until most of the pattern is complete.

Secondly, smaller cryptocurrencies are susceptible to bad ticks and an occasional bad feed. These situations show up as extremely long wicks on the price chart patterns. When you see these wicks, it can be challenging to accurately discern what pattern is forming.

More commonly, smaller cryptocurrencies don’t have enough liquidity to maintain stable pricing. As a result, you’ll get quick price aberrations that can create long wicks. This is more likely to occur on smaller chart time frames.

In these situations, changing over to a line chart that is one or two chart frames smaller than your current one would be a better option.

That is because the line chart tends to remove the noise, enabling you to see the core pattern. Sizing down a couple of chart time frames will help you focus on the subwaves of the larger pattern.

In the Tezos (XTZ) example above, we have a 1-hour chart time frame. Several wicks can make a pattern look like a rising wedge. When you switch over to a line chart, the patterns become clearer and you can quickly discern which ones are and aren’t an ascending wedge.

However, when you switch to a line chart and size down the time frame, be careful not to size down too much. Minute chart time frames begin to lose their lucrative 

, as the spread cost of the trade tends to eat up any potential profits.

The rising wedge pattern is a favorite among traders and technical analysts, though it can be difficult to spot in real-time. In a reversal pattern, the rising wedge is often confused with the triangle pattern, which is a continuation formation.

The clear entry and exit signals the ascending wedge pattern provides make the rising wedge ideal for traders who want to short the market or use the signals to manage their long-term HODL positions.

Candlestick Patterns Professional Traders Use

 – A curated list of candlestick patterns most frequently used by traders

 – Learn the basics of candlestick patterns

 (Chart basics: trend, neckline, wedges)

Rising Wedge Pattern: How to Identify a Selling Opportunity

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