DrDovetail

bitmex bearflag still valid but may act as descending triangle

BITMEX:XBTUSD   Bitcoin / US Dollar Perpetual Inverse Swap Contract
On bitmex the original bear flag with the descending triangle pennant is still valid but the descending triangle of it is getting larger and larger and will soon be too long to be a bear flag and will likely act as just a descending triangle instead. If we break down from it it is more likely that we only drop the length of the triangle than it is that we would drop the length of the pole. Let's keep in mind falling wedge and and inverted head and shoulders are still in play on the bullish perspective so its anyones guess what out of all of them will trigger and confirm most valid.
Nov 24
Comment: here is a look at it with the inverted head and shoulders factored in: https://s3.amazonaws.com/tradingview/sna...
Nov 24
Comment: sorry wrong one...this is the right one: https://s3.amazonaws.com/tradingview/sna...
looks more like a falling wedge or?
+1 Reply
DrDovetail SchultzeTrades
@SchultzeTrades, yes I agree the bottom trendline can b angled to make a falling wedge for certain
Reply
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