Descending Triangle Bitcoin
Bitcoin / US Dollar Perpetual Inverse Swap Contract BITMEX:XBTUSD
Chart XBTUSD 1D Bitmex
A descending triangle as a major pattern and two symmetrical triangles as minor pattern based in fractality.
Support (triangle’s base)=$5855
The horizontal levels are percentages retracement (30%,50%,60%,70%,80%,85%,90%) with initial point $725.4 (11 Jan 2017) and an endpoint at ATH .
I do not use Bitmex regularly for long-term analysis but I think that the right-angled triangle looks most accurate on Bitmex, the lows are quite similar ($5855, $5743,$5860)
Twitter @a_santaellas