$BTC in Descending Triangle on Log Daily Chart

COINBASE:BTCUSD   Bitcoin / U.S. Dollar
It is now clear $BTC is in a descending triangle with at least two points of touch along each trendline . Descending triangles break down 64% of the time, but in cases where the price rises into the pattern (less common) as occurs here, a break up occurs 73% of the time. If $BTC breaks out, it will have a target of 18000-20000 depending on the breakout price. The descending triangle is one of the strongest patterns, with price meeting the target 83% of the time on upward breakouts. Read more here:
Could yoy explain your words please?
"In cases where the price rises into the pattern"
Nice to see the stats.You last charts seem to be spot on. Any reading for beginners you recommend?
Cryptoknight3 lovetofail
@lovetofail, I try to keep it simple. I use a chart pattern image list for initial identification. Then I read the relevant article at the above site ( for confirmation. He gives lots of stats for almost every chart pattern.

For beginners, Investopedia is a good site for learning the basics about the different patterns.
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