Bitcoin descending triangle

bitcoin descending triangle

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This caused a frenzy as attributed to Elon Musk changing 10, cryptocurrencies. Key highlights: Bitcoin saw a strong The price breakout allowed the previous phase of consolidation as the sentiment starts to as a descending triangle formation - marking the end of be at the ATH prices.

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How Will Bitcoin Break It's Descending Triangle Pattern?
A descending triangle is a bearish variation of the triangle setup. It is formed by a horizontal support line connecting almost equalled lows. The descending triangle pattern is a bearish chart formation used in technical analysis to identify potential downward price movements. On the chart, you can see a descending triangle that broke bullishly. What does it mean? Usually, when a descending triangle breaks bullishly, we want to buy it.
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  • bitcoin descending triangle
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    calendar_month 03.03.2021
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    calendar_month 08.03.2021
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    calendar_month 08.03.2021
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    calendar_month 10.03.2021
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Crypto finance

The falling wedge appears in a downtrend but indicates a bullish reversal. We expect a reversal to the upside on this pair, signalled by the descending triangle pattern breakout and counter-trendline breakout. Descending triangles are a bearish pattern that anticipates a downward trend breakout. Descending triangles illustrate the opposite market trend � a bearish movement.