DrGuru

BTC/USD - Descending Triangle: How low will it go?

COINBASE:BTCUSD   Bitcoin / U.S. Dollar
After all the hype at the beginning of this year, price has kept going lower. A very bearish descending triangle is still forming and together with the rejection of BTC             ETF (which will not happen any time soon) this could crash hard!

Be aware! Trade carefully and don't risk anything you're not willing to lose! GL all
Thank you for your chart. Much appreciated. Here is my idea.

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I see that the price is in accumulation, we will soon be growing
+1 Reply
Now can you see it isn't conforming to your triangle?
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DrGuru winsoar
@winsoar, are you sure? still perfectly within the descending triangle!
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Triangle is not descending anymore.
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DrGuru winsoar
@winsoar, you need to rotate your screen; i think yours is upside down! glad to help
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it can also break on the upside as this can play as a wedge
+1 Reply
LijiLe liam4
@liam4, its more likely to break down though. No big fundamental changes in crypto until 2020
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liam4 LijiLe
@LijiLe, as seen previously with breakouts btc does not need fundamental changes
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LijiLe liam4
@liam4, you need to pay attention to the market cycle...
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