TrilogyAnalysis

9.9.17 | BTCUSD | Descending Triangle

BITSTAMP:BTCUSD   Bitcoin / U.S. Dollar
BTCUSD
(Code-Name_Virtue) Practice

(Keymaker) Scroll down for more charts.
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Comments

what are those half circles? how did you add them?
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@gumbtg, On Trading View they are called "time cycles", they are a standard drawing tool on Trading View. They are used to measure the markets cycle's. There are also other cycle drawing tools that come standard on the Trading View platform, they are all located next to each other in the toolbar.
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@gumbtg, I am still learning how to use them, for any further instruction I recommend the source provided above and please if you do find any other sources that you found to be helpful please share them with me either posted as a comment here or via P.M. | Thank You
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I'm sorry but you got this wrong, the bigger one is clearly a rising wedge which is bearish.
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@bmgbmg, Interesting; a descending triangle is also bearish. I will post what you are referring to as a rising wedge.
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bmgbmg TrilogyAnalysis
@TrilogyAnalysis, That looks better, but I don't thing we'll see it retrace higher from here, I could be talking out my ass, too. It's saturday night and I'm chasing OKCash!!
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@bmgbmg, Thank You. The smaller pattern may be a pennant continuation pattern and the bearish trend may be continuing to breakout of the larger pattern right now. I would certainly continue to look for confirmation on the way down. Thanks again, I appreciate your comments.
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@bmgbmg, Thank You very much for your comment I appreciate your help very much. One thought that may help: If price closes below support of the rising wedge I have drawn than the breakout may trade according to the Triangle.
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