acdmbe

ETH ready to break? descending triangle

BITTREX:ETHBTC   Ethereum / Bitcoin
just my 2 satoshi's worth

Descending triangle
The descending triangle is the opposite of the ascending triangle in that it gives a bearish signal to chartists, suggesting that the price will trend downward upon completion of the pattern. The descending triangle is constructed with a flat support line and a downward-sloping resistance line.

Similar to the ascending triangle , this pattern is generally considered to be a continuation pattern, as it is preceded by a downward trendline . But again, it can be found in an uptrend.



Read more: Analyzing Chart Patterns: Triangles http://www.investopedia.com/university/charts/charts5.asp#ixzz4wWGljF9T
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Comment: who said TA doesnt apply to crypto currencies?
Comment: pretty much spot on! well done me.
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