The price has been making a descending triangle since the beginning of September. The price met a strong resistance pressure which led the price to go down. We can see from the volume, the number of sellers increased rapidly.
Now, the descending wedge has been forming for a month and this situation seems to last for a little longer.
The next step of the descending triangle is a break down. Now, we have not seen any breakout signal yet, so the price may keep completing the descending triangle.
Let's focus on the price and see which could be the point for breakout.
Now, the descending wedge has been forming for a month and this situation seems to last for a little longer.
The next step of the descending triangle is a break down. Now, we have not seen any breakout signal yet, so the price may keep completing the descending triangle.
Let's focus on the price and see which could be the point for breakout.