just my 2 satoshi's worth
Descending triangle
The descending triangle is the opposite of the ascending triangle in that it gives a bearish signal to chartists, suggesting that the price will trend downward upon completion of the pattern. The descending triangle is constructed with a flat support line and a downward-sloping resistance line.
Similar to the ascending triangle, this pattern is generally considered to be a continuation pattern, as it is preceded by a downward trendline. But again, it can be found in an uptrend.
Read more: Analyzing Chart Patterns: Triangles investopedia.com/university/charts/charts5.asp
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Descending triangle
The descending triangle is the opposite of the ascending triangle in that it gives a bearish signal to chartists, suggesting that the price will trend downward upon completion of the pattern. The descending triangle is constructed with a flat support line and a downward-sloping resistance line.
Similar to the ascending triangle, this pattern is generally considered to be a continuation pattern, as it is preceded by a downward trendline. But again, it can be found in an uptrend.
Read more: Analyzing Chart Patterns: Triangles investopedia.com/university/charts/charts5.asp
Follow us: Investopedia on Facebook
Note
who said TA doesnt apply to crypto currencies?Note
pretty much spot on! well done me.
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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.