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UnknownUnicorn1178563
Sep 12, 2017 10:20 PM

BTC Descending triangle chart pattern  Short

Bitcoin / U.S. dollarBitstamp

Description

Momentum has been waning along with Money flow which has been bearish. We can expect a downtrend soon but Descending triangles are known to be tricky so its best to play both sides of the game if you don't want to miss out - Shorts below 3950 and long above 4350.
If Price breaks down then descending triangle target at 3150-3200 level. If that happens we can see fulfillment of the MACD crossover % drop on the daily as well which I had posted previously.

Comment

BTC bounced from descending triangle target after we reached the target. :)

Trade closed: target reached

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