Descending Triangle, can go 2 ways.
Bull Scenario
- Bounce off structural support to retest resistance or
- Bounce to break resistance (will need large volume)
( RSI Oversold, which has shown to be a powerful indicator for probable reversal on bitcoin. )
Bear Scenario
- Breakdown of structural support on strength, to $5 / $4k support
( Descending Triangle has been shown to be high probable indicator for breakdown, and we're in a confirmed bear trend so the trend is supporting this scenario )
Bull Scenario
- Bounce off structural support to retest resistance or
- Bounce to break resistance (will need large volume)
( RSI Oversold, which has shown to be a powerful indicator for probable reversal on bitcoin. )
Bear Scenario
- Breakdown of structural support on strength, to $5 / $4k support
( Descending Triangle has been shown to be high probable indicator for breakdown, and we're in a confirmed bear trend so the trend is supporting this scenario )