The chart shows a descending triangle, with a breakout.
The breakout yesterday and today, have been on strong intraday volume.
A measured move can be made by adding the height from the double bottom (purple circles), to the area of the breakout. Using the green arrows to represent the potential move, which takes us to $152 approximately. Which is coincident...
Shittiest descending triangle of all time and -38 % correction soon? We had a false breakout recently at roughly 34k and my hope for super bullish move is kinda gone now. I still don't think I wanna take any trade here, too risky for my taste.
DESCENDING TRIANGLE PRICE ACTION
This chart pattern starts forming with bears already in control of the exchange rate's downtrend. Bulls make a stand at a certain rate and try holding it as much as they can, while bears keep squeezing on that rate till they finally break it and the exchange rate continues its downtrend.
Let's break down the pattern...
On the RSI Bitcoin appears as though it wants to break the downward sloping resistance of a descending triangle.
The upward sloping support of the ascending triangle has seen multiple touchpoints, and the more a trend line is tested the more likely it's going to be broken, the same goes for the horizontal resistance.
The KST is displaying a bullish cross where...
hi, today until tomorrow what will happen !?
Bitcoin Analyze ( BTCUSDT ) Timeframe 15 ⏰
Please first look at my previous post 👉https://www.tradingview.com/chart/BTCUSDT/Yt4NDtF4-Bitcoin-Analyze-Patterns/
Bitcoin is running on Ascending Channel while this channel is on Descending Channe l (Yellow), also we are seeing a pullback to our lower line of...
hi everyone👋, first I have to say sorry for my busy chart 🙏, Maybe I have to reward someone who can find the number of my chart patterns 😀🏆.
Bitcoin Analyze ( BTCUSDT ) Timeframe 4h ⏰
Location 🌊: about the location of Bitcoin , please read my post with the topic ''Bitcoin Analyze (Two Descending Triangle )!!!'' .
Patterns : Still, Bitcoin wants...
I have been very, very, patiently watching this trade for a buy entry on TLSA and it has been a couple of months now as you will be able to see from my linked idea. I have used this chart to help me time some SPXU calls due to its inclusion in that index. My linked post will show how I thought this would be resolved a bit quicker in a simple falling wedge but...
Hey traders,
an update on MATIC> looks like the triangle is about to play out if BTC wants to move lower. Price ahas also been below the 8h cloud for the past month now, nothing but bearishness. (I put ion a trade at the mean reversion a while ago, still have a little in the position).
Like and follow for more, I'll post more updates and analysis.
Hello Everyone,
Already said in previous post 32700 low is very crucial for Bulls if broken this whole recent structure will be invalidated.
Now if we break 🔴 with the force 32230 fall up to 31162, 30029 not ruled out.
Stay tuned as always for any fresh updates. Give a Thumbs Up 👍
Success is always rented not owned and the rent is due every day.
Patience...
The pattern is clean. We are currently forming a descending triangle.
The declining volume suggests that there is an imminent move.
Descending Triangle Statistics:
Break-even failure rate: 16% in a bull market; 11% in a bear market
Average decline: 16% in a bull market; 25% in a bear market
Pullbacks: 54% in a bull market; 59% in a bear market
Percentage...
Hi, as I said in my last post, probably I was able to find the end of microwave 4 of main wave C at 36600$ .
Bitcoin Analyze ( BTCUSDT ) Timeframe 4h ⏰
Location 🌊: about the location of Bitcoin , please read my post with the topic '' Bitcoin Analyze (Two Descending Triangle)!!! ''.just I can say if the price breaks our ascending Channel (to down), I...
We have a technical figure Descending Triangle in US company International Business Machines Corporation (IBM) at daily chart. IBM is an American multinational technology company. IBM produces and sells computer hardware, middleware, and software, and provides hosting and consulting services in areas ranging from mainframe computers to nanotechnology. The...
A descending triangle is a bearish chart pattern used in technical analysis that is created by drawing one trend line that connects a series of lower highs and a second horizontal trend line that connects a series of lows.
The last several weeks have been incredibly tricky in terms of technical analysis and finding a clear edge, why? We've seen fake outs to the...
Hi Everyone, I can understand that maybe you are tired from this market, but I am believing that we will see new movements (Soon)❗️
I don't know that did you read my previous post about Bitcoin analysis or not !? if YES , please read this post, if NO , first please read my post with the topic'' Bitcoin Analyze ( Triple Three Corrections ) !!! ''.
Bitcoin ...
Welcome back Traders, Investors, and Community!
Hi Traders, ETCUSDT on Daily Time frame has broken above the resistance with a big red candle but it seems before it goes higher it’s making a pullback.
On the H4 the price has formed a descending Triangle so which is a sign of trend continuation.
⬆️Buy now or Buy at 39.761
⭕️SL @ 31.970
✅TP1 @ 61.246
✅TP2 @...
Hi every one
Bitcoin / U.S. Dollar
BTC/USD is forming a Descending triangle which means that the price is about to Decrease but only after confirmation which is of course the downward breakout that is expected to happen.if this pattern successfully affect the market, BTC can Decrease to 25k to 24k.( in worst case 20K!)
Traders, if you liked this idea or have...
