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

in #dlike2 years ago

Shared From Dlike

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.

Source of shared Link


Hello! I find your post valuable for the wafrica community! Thanks for the great post! We encourage and support quality contents and projects from the West African region.
Do you have a suggestion, concern or want to appear as a guest author on WAfrica, join our discord server and discuss with a member of our curation team.
Don't forget to join us every Sunday by 20:30GMT for our Sunday WAFRO party on our discord channel. Thank you.