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 BettercallD
@BettercallD, Thanks
No cierto Valedor
hopeman Neuras
@Neuras, whats ? Can you repeat in English please?!!!