Descending triangle / Potential Bullish reversal
Hello Traders,
-On 1D time chart we can see clearly that a descending triangle was formed and a breakout was validated yet in order to push the price higher we need to see buyers taking a step forward pushing the price higher to the last swing 0.154$ along with a decent amount of volume which will give us a bullish sign, if not the price might breakdown and we can go back again to our last strong supports 0.1$ - 0.080$.
-Until now as we know that a descending triangle is in general a bearish pattern but since we had a breakout an potential reversal pattern ( uptrend ) is on the rise.
-Wait for confirmation after breaking our last swing ( orange zone ) then set your entries /stop losses upon it
Good Luck Traders!
-On 1D time chart we can see clearly that a descending triangle was formed and a breakout was validated yet in order to push the price higher we need to see buyers taking a step forward pushing the price higher to the last swing 0.154$ along with a decent amount of volume which will give us a bullish sign, if not the price might breakdown and we can go back again to our last strong supports 0.1$ - 0.080$.
-Until now as we know that a descending triangle is in general a bearish pattern but since we had a breakout an potential reversal pattern ( uptrend ) is on the rise.
-Wait for confirmation after breaking our last swing ( orange zone ) then set your entries /stop losses upon it
Good Luck Traders!
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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.
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.