PIVX Descending Triangle
In this case I'm going to consider this pattern to be bullish, since downside potential is limited and there has been an extended period of consolidation. PIVXBTC has been rather resilient, in terms of USD. If PIVX can break out of the triangle, upside potential could match the length of the first touch, marked as a red line inside the triangle and copied to the target area. Coming out of the triangle, there will be immediate resistance at 38.2 and 50 fib levels but with momentum and volume, the target will be .0014BTC. Lacking volume, we will see further consolidation and accumulation while we wait for a new pattern to emerge.
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