We look for a bearish continuation when price is below the 200 average and when there is a bearish chart pattern.
The DESCENDING TRIANGLE CHART PATTERN. A descending triangle is a signal to traders to take a short position to accelerate a breakdown. A descending triangle is detectable by drawing trend lines for the highs and lows on a chart. A descending triangle is the counterpart of an ascending triangle, which is another trend line based chart pattern used by technical analysis.
Price trend can be any direction leading to the pattern.
The Shape looks more like a price pattern bounded by two trendlines, the bottom one horizontal and the top sloping downward. Price should touch one trendline at least three times and the other trendline at least twice as distinct peaks or valleys.
The breakout from this chart pattern is more reliable if the chart pattern boundaries is tested several times(the horizontal support).
Targets looks more valid if price breakout towards the downside and closes below the support trendline.
Targets to look out for are as follows: 0.017517sats down to 0.013931sats.
Risk Disclaimer:
Trading cryptocurrency on margin carries a high level of risk(volatile), and may not be suitable for all trades who are yet to understand how to use STOP LOSS. The high degree of leverage can work against you as well as for you.
It is your responsibility to confirm if you want to take this trade or not. Trade only with risk capital; that is, trade with money that, if lost, will not adversely impact your lifestyle and your ability to meet your financial obligations.
If you do not fully understand these risks you must seek independent advice from your financial advisor.
The DESCENDING TRIANGLE CHART PATTERN. A descending triangle is a signal to traders to take a short position to accelerate a breakdown. A descending triangle is detectable by drawing trend lines for the highs and lows on a chart. A descending triangle is the counterpart of an ascending triangle, which is another trend line based chart pattern used by technical analysis.
Price trend can be any direction leading to the pattern.
The Shape looks more like a price pattern bounded by two trendlines, the bottom one horizontal and the top sloping downward. Price should touch one trendline at least three times and the other trendline at least twice as distinct peaks or valleys.
The breakout from this chart pattern is more reliable if the chart pattern boundaries is tested several times(the horizontal support).
Targets looks more valid if price breakout towards the downside and closes below the support trendline.
Targets to look out for are as follows: 0.017517sats down to 0.013931sats.
Risk Disclaimer:
Trading cryptocurrency on margin carries a high level of risk(volatile), and may not be suitable for all trades who are yet to understand how to use STOP LOSS. The high degree of leverage can work against you as well as for you.
It is your responsibility to confirm if you want to take this trade or not. Trade only with risk capital; that is, trade with money that, if lost, will not adversely impact your lifestyle and your ability to meet your financial obligations.
If you do not fully understand these risks you must seek independent advice from your financial advisor.