Rules of Descending Triangles. Is Bitcoin in One?

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Bitcoin (BITFINEX:BTCUSD)

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BITFINEX:BTCUSD Bitcoin

trendanalysis chartpattern bitcoin btc btcusd xbt xbtusd

It seems to me, based on the rules posted in the chart, we are in a clear bearish continuation descending triangle.

Red Boar

Commentaire:

Rising wedge on declining volume....love tap on the .618 retrace line....what more could a bear ask for?

Commentaire:

Price rejected off of 25 MA weekly and down trend line perfectly

Commentaire:

Here is a smaller descending triangle I am watching...expecting a breakdown

Commentaire:

WOW! What a perfect chart this ended up becoming...volume is back and its time to short the ponzi bitcoin to the dirt...get ready fellas its going to be a hard ride down!

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