Is Bitcoin trading in a Giant Descending Triangle?
On the RSI there appears to be a noticeable divergence, there's a series of higher lows forming an ascending triangle.
The price is displaying a series of lower highs forming a descending triangle.
A bullish divergence or bearish divergence?
A bullish divergence occurs when prices fall to a new low while an oscillator fails to reach a new low. This situation demonstrates that bears are losing power, and that bulls are ready to control the market again—often a bullish divergence marks the end of a downtrend.
Bearish divergences signify potential downtrends when prices rally to a new high while the oscillator refuses to reach a new peak. In this situation, bulls are losing their grip on the market, prices are rising only as a result of inertia, and the bears are ready to take control again.
On the KST there has been a bearish cross on a 1-year chart. In this 5-year chart, it appears as though a bearish cross is on the verge of occurring near term on the Williams alligator.
It's always possible this pattern plays out as a Giant Bullish Flag, expect to see a re-test of the baseline of support & possibly a fake-out to the downside before breaching the horizontal resistance and re-testing ATH's.
The price is displaying a series of lower highs forming a descending triangle.
A bullish divergence or bearish divergence?
A bullish divergence occurs when prices fall to a new low while an oscillator fails to reach a new low. This situation demonstrates that bears are losing power, and that bulls are ready to control the market again—often a bullish divergence marks the end of a downtrend.
Bearish divergences signify potential downtrends when prices rally to a new high while the oscillator refuses to reach a new peak. In this situation, bulls are losing their grip on the market, prices are rising only as a result of inertia, and the bears are ready to take control again.
On the KST there has been a bearish cross on a 1-year chart. In this 5-year chart, it appears as though a bearish cross is on the verge of occurring near term on the Williams alligator.
It's always possible this pattern plays out as a Giant Bullish Flag, expect to see a re-test of the baseline of support & possibly a fake-out to the downside before breaching the horizontal resistance and re-testing ATH's.
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