Is the ascending triangle a bearish pattern?

Let me explain: Normally, the ascending triangle is a bullish pattern because it’s most common to appear within an uptrend. However, there are some instances where the ascending triangle can act as a bearish pattern. Those instances usually happen when the ascending triangle develops within a downtrend.

Why do we consider ascending triangle pattern bullish?

We consider the ascending triangle pattern bullish because it leads to a bullish breakout. Once spotted, traders go long when the upper resistance level breaks. A Continuation Pattern. Unlike a rounding bottom or reversal pattern, this strategy is a bullish continuation pattern.

Why is the ascending triangle called a bullish triangle?

The ascending triangle is also known as the bullish triangle because it leads to a bullish breakout. The triangle chart pattern is generally considered a bullish pattern. Note*: the reverse of an ascending triangle is the descending triangle also known as the bearish triangle. How the ascending triangle looks like: