No, Bitcoin Price Is Not in a 2018-Like ‘Descending Triangle’ of DoomsteemCreated with Sketch.

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Twitter is bearish, abuzz with chatter of a descending triangle that is forming on the Bitcoin (BTC) chart and with comparisons to the descending triangle that broke down in 2018 at $6,000.

Twitter is often wrong. Let’s first define the descending triangle.

A descending triangle is among the most famous classical “bearish” chart patterns used in technical analysis. It is created when price forms a descending trend line with lower highs, while a second horizontal trend line with equal lows evolves.


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