November A Decision To Remember for Bitcoin!

BITSTAMP:BTCUSD1W

Bitcoin / U.S. dollarBitstamp

Description

⋅ Oct 6, 2018 3:51 PM

Descending triangles are a bearish formation. Stoploss can be taken higher to $8500 for less risky trade.

Comment

⋅ Nov 16, 2018 3:19 AM

Here it comes, let's see how far we go down. Divide your entry throughout the entry zone and good luck :D

Chart Patterns

Comments

Benjamix

⋅ Oct 6, 2018 4:09 PM

Triangles are a continuation pattern. Bullish entry usually means bullish exit. Picking a triangle reversal is probabilistically worse than a continuation one. Unless you know something we don't...

Youstanzr

⋅ Oct 8, 2018 9:17 PM

@Benjamix, Read, learn, be polite. It's funny how people react when they find out that it might be going down further more.

I don't know how the descending triangle will play out but it is a bearish formation as you can read here: investopedia.com/terms/d/descendingtriangle.asp

Descending triangles are mostly bearish but although it is unlikely, it can breakout upward and the pattern would fail and turn into bullish.

Benjamix

⋅ Oct 12, 2018 4:25 PM

@Youstanzr, good luck with your assumption. Be nice to see a high volume breakout in any direction. This asset is really boring lately..

Youstanzr

⋅ Oct 12, 2018 6:20 PM

@Benjamix, Agreed, we are going to benefit from the move whether upward or downward. Hopefully a breakout will happen soon