BitcoinShort
Bitcoin Bearish Descending Triangle
The price action of Bitcoin has broken below the descending triangle, usually a sign that more pain is to come. The price is now retesting the previous support line (now the resistance) of the triangle. It could be another opportunity for the shorts to load up.
If we look at the smaller time frame, we see that the price is forming a bearish rising wedge.
If we look at the smaller time frame, we see that the price is forming a bearish rising wedge.
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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.