Descending Triangle V. Bull-Flag: Which One Will Win?!

Descending Triangle V. Bull-Flag: Which One Will Win?!

on1iW7 - Descending Triangle V. Bull-Flag: Which One Will Win?!

If have been thinking BYBIT:BTCUSD is in a bull-flag then as of now we have hit the bottom of the would-be diagonal support line of a bull flag one time (see turquoise diagonal dotted line and arrow). At the time of writing it’s 2 -1 descending triangle V. bull flag . But there is another scenario that is a possibility, which is BTC in a descending triangle ( bearish pattern ). My reasoning is we’ve had two bounces off the would-be support line of a descending triangle (see white arrows at at possible descending triangle support line) versus one on the bull-flag as stated above. The next test of support bouncing off either the possible bull-flag’s support or the possible descending triangle’s support will be telling.

Published at Tue, 05 Nov 2019 01:29:41 +0000

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