MoonTrader
Short

Descending triangle

BITSTAMP:BTCUSD   Bitcoin / Dollar
The market appears to be consolidating in a bearish descending triangle for the time being.

Short targets at $320 and longer term $250 are still valid. Support has been identified at $347, but it will probably break soon.

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Thanks!

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Great!
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What do you think?
This has been a 100& retrace of wave 2 back into wave 1 of my chart so far.
That said, long spikes above the bodies, topping out at 360 suggest that might be it...maybe we still head down?
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MoonTrader johnrfraser
I haven't really looked at it a lot lately, but the descending triangle has been invalidated for sure. I'll be watching to see what other patterns I can spot over the next few days.
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