Descending triangle, BTC looking for new lows?
Updated
So my thoughts,
last 4H close was a graveyard doji, representing that bulls didn't want bears to advance,
Volume is still picking up, more on the downside.
RSI giving a descending price momentum, keeping up with a trend
Price is hovering on fib line, trying to break trough
Descending triengle giving a pause to the bears, not pushing the price lower for now
If touch on trendline with backing down on volume, then the triangle is nearing completion.
To be clear, I'm not a financial adviser, I will not be held accountable for any losses in investing, use your own due diligence.
Happy hunting.
last 4H close was a graveyard doji, representing that bulls didn't want bears to advance,
Volume is still picking up, more on the downside.
RSI giving a descending price momentum, keeping up with a trend
Price is hovering on fib line, trying to break trough
Descending triengle giving a pause to the bears, not pushing the price lower for now
If touch on trendline with backing down on volume, then the triangle is nearing completion.
To be clear, I'm not a financial adviser, I will not be held accountable for any losses in investing, use your own due diligence.
Happy hunting.
Comment
So an update,there's been a fake breakout to the downside,
Comment
this was on lacking volume, and prices went back up into the forming triangle range.Volume was not enough to push it trough.
Still expecting a lower low, but buying volume seems to be indicating that the lowest low, won't be that much lower :)
In my opinion the downtrend is starting to lose momentum.
Happy hunting
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