Don't Miss This Clean Short on ETHBTC With Fantastic Risk-Reward

The descending triangle here is a bearish formation that usually forms during a downtrend as a continuation pattern. These are bearish patterns that indicate a sudden drop in price can come soon. I suggest you trade this one with a short, after we see confirmation of the triangle by a rejection on the upper trendline.

Given that the pattern is so clean, the risk reward is great here. Descending triangles always lead to large price drops, and a rejection of this triangle will only lead to a smaller price increase.

Follow me for consistent high quality updates, with clear explanations and charts.
Please like this post to support me.

- Trading Guru

--------------------------------------------------------------
Disclaimer!
This post does not provide financial advice. It is for educational purposes only!

About the links below:
20% Discount on Binance: Did you know that Binance introduced a new system where you can get 20% discount on your fees? Find the step-by-step guide on how to add it to your account on the website of 100eyes

Forex & Crypto Scanner: Nobody can keep track of all the pairs on all timeframes. This scanner works on Telegram and sends an automated message including a chart every time something happens to a coin. E.g. it can automatically detect areas of support and resistance, RSI Divergences, Fib Retracements, and more.

Comment:

The execution wasn't as clean as I would have preferred it to be, but we did see a drop in price at the end of the triangle.

Also, the bounce happened nicely around the support area that I drew. I am happy still with this trade!