TradingView
luigi1977
Sep 3, 2019 9:26 PM

Falling wedge pattern  Long

Bitcoin / EuroCoinbase

Description

Bitcoin forming a falling wedge pattern (or bullish pennant). High probability of breaking the trend.
~2 weeks to new ATH.
Comments
VanBenno
You know, the Descending Wedge is an indicator of a bearish reversal, right? There's nothing bullish about it.
VanBenno
@VanBenno, You're thinking of a Symmetrical Triangle. That's the bullish one. Descending, as you pointed out here, is always bearish. And the chart you drew indicates that the bottom for the correction should be at around 4k (usd).
luigi1977
@VanBenno, we will see :)
luigi1977
@VanBenno, wanna bet?
VanBenno
@luigi1977, Bet on what the definition of a descending triangle is?
More