Axixcades:163. descending triangle broken, target 80 and 40
onRequest
@meqazi
The demand line of the descending triangle is broken. Descending triangle is also a bearish formation that usually forms during a downtrend as a continuation pattern. There are instances when descending triangles form as reversal patterns at the end of an uptrend like this one, but they are typically continuation patterns. Regardless of where they form, descending triangles are bearish patterns that indicate distribution.i expect the price to come down near40 level.
@meqazi
The demand line of the descending triangle is broken. Descending triangle is also a bearish formation that usually forms during a downtrend as a continuation pattern. There are instances when descending triangles form as reversal patterns at the end of an uptrend like this one, but they are typically continuation patterns. Regardless of where they form, descending triangles are bearish patterns that indicate distribution.i expect the price to come down near40 level.
Note
No sign for a recovery
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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.