BTCUSD - Long/Short
Bitcoin is forming a descending triangle. The descending triangle is more often a continuation pattern than a reversal pattern.
If a reversal pattern is formed with significant volume, then bitcoin will become a buy. Until then..the downside of bitcoin could continue.
If Bitcoin breaks the bottom of the descending triangle with a significant daily/weekly candle. Then remain short.
If a reversal pattern is formed with significant volume, then bitcoin will become a buy. Until then..the downside of bitcoin could continue.
If Bitcoin breaks the bottom of the descending triangle with a significant daily/weekly candle. Then remain short.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.