HelenaDashwood

BTCUSD Descending Triangle Check-in - Big Picture Set Ups

BITFINEX:BTCUSD   Bitcoin / U.S. Dollar
With the bullish action the last few days, I wanted to check the overall market structure to see if any major breaks had occurred. We are still ranging within this descending triangle since mid-January 2018.

By my calculations it could be another 39 days - 59 days until we break out of this long term descending triangle . You can see that the range is tightening, which is a good indication for a breakout. Think of a spring coiling...
My classical charting training says that the descending triangle is a bilateral pattern so the breakout could be either bullish or bearish . More patience required, although it is not unheard of for a break before the apex is reached so it could happen at any time if there is FUD or the Whales have other ideas.
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