No, Bitcoin Price Is Not in a 2018-Like ‘Descending Triangle’ of Doom

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Bitcoin price analysts suggest that a descending triangle pattern is forming like the one that broke down from $6K, but is this really the case? Twitter is bearish, abuzz with chatter of a descending triangle that is forming on the Bitcoin (BTC) chart and with comparisons to the descending triangle that broke down in 2018 at $6,000. Twitter is often wrong. Let’s first define the descending triangle.A descending triangle is among the most famous classical “bearish” chart patterns used in technical analysis. It is created when price forms a descending trend line with lower highs, while a second horizontal trend line…
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No, Bitcoin Price Is Not in a 2018-Like ‘Descending Triangle’ of Doom

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