hopeman
Short

BTC/USD Short. The descending triangle

BITFINEX:BTCUSD   Bitcoin / U.S. Dollar
The descending triangle is also a very reliable and easily detected trend continuation figure. It always occurs in bearish tendencies and occurs when the price "takes a break" in its fall.

As happened with the ascendant, to be sure that it is a triangle there must be at least 4 points of contact, two minimums (of the same level) and two maximums (the second being smaller than the first). As in the previous case, the fact of having two minima at the same level makes one of the sides a straight line, resulting in a very clear and effective way to break a support.

As with the symmetrical triangle, the volume tends to increase significantly at the time of price breakage in a downward direction. This break usually occurs about 3/4 of the formation. Once the break has occurred, it will have the width of the triangle as its travel objective.

Of course all this can happen due to lack of volume or a lot of descending volume !! You must also cross two historical supports that are in the 7600k and in the 6700.

Good trading friends
Nice graph
+1 Reply
hopeman dinosid93
@dinosid93, Thanks
Reply
No cierto Valedor
Reply
@Neuras, whats ? Can you repeat in English please?!!!
Reply
EN English (UK)
EN English
EN English (IN)
DE Deutsch
FR Français
ES Español
IT Italiano
PL Polski
SV Svenska
TR Türkçe
RU Русский
PT Português
ID Bahasa Indonesia
MS Bahasa Melayu
TH ภาษาไทย
VI Tiếng Việt
JA 日本語
KO 한국어
ZH 简体中文
ZH 繁體中文
AR العربية
HE עברית
Home Stock Screener Forex Screener Crypto Screener Economic Calendar How It Works Chart Features House Rules Moderators Website & Broker Solutions Widgets Stock Charting Library Feature Request Blog & News FAQ Help & Wiki Twitter
Profile Profile Settings Account and Billing My Support Tickets Contact Support Ideas Published Followers Following Private Messages Chat Sign Out