Descending Triangle formation by ETH price action. There are instances when descending triangles form as reversal patterns at the end of an uptrend, but they are typically continuation patterns.
Let us see if this triangle will be bearish or bullish.
I believe its a bullish as it also is forming a W double bottom in shorter time frame, and we might see an uptrend continuation from here!
Nothing is certain, so lets wait and watch!
You can check my previous ideas and price actions predictions by referring to the link below. Most of them were correct and played out well.
Let us see if this triangle will be bearish or bullish.
I believe its a bullish as it also is forming a W double bottom in shorter time frame, and we might see an uptrend continuation from here!
Nothing is certain, so lets wait and watch!
You can check my previous ideas and price actions predictions by referring to the link below. Most of them were correct and played out well.
Comment:
In case it acts as a reversal pattern, then here is the bearish target for breaking out of the triangle!
Comment:
Price broke down of the triangle, lets wait to see the bearish target in the above image! This big dip actually is due to a larger volume of bitcoin sold by someone(a whale).
Almost all coins are following Bitcoin.
Let us wait and watch when it will be stable!
Almost all coins are following Bitcoin.
Let us wait and watch when it will be stable!
