Hello dear friends and followers;
Welcome to my chart on bitcoin for august 2019.
Here I have drawn a beautiful well-respected descending triangle on my chart.
Look at it carefully, how amazingly she has respected the bottom at around 9070 and the descending line from 13842.
So, as you already know, after a descending triangle the most probable output can be a sharp falling movement, in case that the price breaks down the bottom of the triangle at 9070 and closes at least one daily candle under this line successfully.
Since the bitcoin has been one of the most complicated charts to anticipate its future movement, I encourage you to decide very carefully on any position that you are taking.
putting the stop loss in a proper position might help when things go wrong.
Final word I wish you the best of luck together with a successful trade.
Don't forget to leave comments and if this helps in anyway press the like button.
Welcome to my chart on bitcoin for august 2019.
Here I have drawn a beautiful well-respected descending triangle on my chart.
Look at it carefully, how amazingly she has respected the bottom at around 9070 and the descending line from 13842.
So, as you already know, after a descending triangle the most probable output can be a sharp falling movement, in case that the price breaks down the bottom of the triangle at 9070 and closes at least one daily candle under this line successfully.
Since the bitcoin has been one of the most complicated charts to anticipate its future movement, I encourage you to decide very carefully on any position that you are taking.
putting the stop loss in a proper position might help when things go wrong.
Final word I wish you the best of luck together with a successful trade.
Don't forget to leave comments and if this helps in anyway press the like button.
Comment:
The Fibo 38.2 is being tested and in case of breaking this level the most possible scenario would be testing the bottom of the triangle at 9071
Trade active
Comment:
Still trapped in the triangle.
Comment:
Consolidation is in progress and the descending triangle is still valid.
Comment:
Right now the price is challenging with 38.2 Fib level and then tries to test the bottom of the triangle