paaax
Long

Descending triangle - Breaish or bullish?

BITTREX:DASHBTC   Dash / Bitcoin
Hey guys,

as you can see, there's a clear descending triangle on the chart. What does it mean? Well, it's the end of the former uptrend, for now. In the literature, I found this quote, which fits perfect to the current situation.

"There are instances when descending triangles form as reversal patterns at the end of an uptrend, but they are typically continuation patterns. "

How to determine a target price? Simply take the widest distance within the triangle and project it into the future from the triangles breakout point. Due to the fact, that I have no clear breakout point yet, I took the current price level to set my prediction. That could vary a bit based on the breakout point.

If you would like to see more prediction like this one, make sure you follow me on twitter , medium or cryptomus:

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At the moment there are numerous coins, there won't be any competition on technology as others will catch up. In the long term, the way a coin is regulated is most important. Soon or later Dash will replace BTC as a self-regulating coin with an unprecedented governance structure with some form of democracy incorporated in it.
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