There was some talk in Reddit from user Factitiously_Real about some sort of triangle pattern. I looked into more and found it to be a flag pattern instead.
This is a consolidation before the continuation happens. This flag has been setup perfectly because it does have a nice bull trend before it. There was a sharp decline before entering into it. It is showing signs of weakening. I think we had a bullish pennant just a few days ago which I will go find now. Found.
I like how the ATR has also been falling with price. Good sign for things ahead. The RSI has been flat lining diverging from the price. I would like to see upward sloping divergence but this is still good.
Seems like people need to pay their bills or are taking their profits they have and are running. Only good explanations to such a sharp price drop.
Little more on my blog if you wold like to check that out: www.allbitcointa.cu....ls-continuation.html
This is a consolidation before the continuation happens. This flag has been setup perfectly because it does have a nice bull trend before it. There was a sharp decline before entering into it. It is showing signs of weakening. I think we had a bullish pennant just a few days ago which I will go find now. Found.
I like how the ATR has also been falling with price. Good sign for things ahead. The RSI has been flat lining diverging from the price. I would like to see upward sloping divergence but this is still good.
Seems like people need to pay their bills or are taking their profits they have and are running. Only good explanations to such a sharp price drop.
Little more on my blog if you wold like to check that out: www.allbitcointa.cu....ls-continuation.html
