BTC/USDT Day Chart THE Bitcoin pattern Descending triangle

Oct 19, 2020

We fall far from here all the way to 3800. We will bounce off key support levels which I will post following this chart. You will see we are finished up a descending scallop and am falling from here. Watch your alt coins as BTC falls to its support levels. As it enters HCR (Horizontal Consolidation Regions) we will see pumps from alts so keep an eye out to catch some of those for some quick scalps,but don't over stay your welcome. Its also advised to get out of any shorts on BTC and avoid trying to long the HCR's as they will chop you up and spit you out very easily if you slip up trading the waves. It is important to remember that everything involved with these charts are fractals. Given this information you then determine the overwhelming pattern. Whatever market direction is associated with a certain pattern you can then see it echoed in the sub patterns. You see this when you see the descending scallops within the descending triangle. A lot of money to be made on this drop be careful keep to your rules. if you like the content throw me a like and follow me for great ideas.

Oct 20, 2020

Note

I have analyzed this further and I believe this will be a descending triangle that pumps to the upside after the last scallop.
To explain the bearish alignment: When you have an uptrend and you get a red candle body lining up with the top of a green candle body with the green on the left and red on the right signals downside. Even if the price action continues up it is always going to fall below the lowest point of the red candle from the bearish alignment. This happens 100% of the time. But you have to stretch your candles up and verify it is a precise alignment. This is indicative of the price action meeting and not just people taking profits by selling to the people on the buy bidding side of the order book.

Oct 23, 2020

Note

This bearish idea was invalidated, and it was proven that the symmetrical triangle was what played out.