NewsBTC
No Result
View All Result
  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play GamesTry
  • CasinosTry
Breaking News: Coinbase Confirms DOJ Investigation Following Major Security Incident
  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play GamesTry
  • CasinosTry
Bitcoin News
No Result
View All Result
Breaking News: Coinbase Confirms DOJ Investigation Following Major Security Incident

A Dangerous Technical Pattern In Bitcoin Is Back, And It Is Breaking Down

Tony "The Bull" Severino
Tony "The Bull" Severino
4 years ago
3 mins read
bitcoin dangerous triangle pattern

Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Ad discliamer

Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.

Bitcoin price is barely holding onto support at $30,000 and it could soon be lost for some time to come, if a pattern that has cut the cryptocurrency down to size confirms.

The pattern itself has proven dangerous for Bitcoin in the past, and appears to be in the process of breaking down now. Here’s how past patterns have played out, and downside targets if the bearish pattern is valid.

Descending Triangle: The Most Dangerous Technical Pattern In Bitcoin

Technical indicators such as the MACD and Average Directional Index have signaled a change in trend on daily timeframes for more than a week now.

Across the now three weeks of price action in Bitcoin since the current 2021 peak at $42,000, the leading cryptocurrency by market cap has bled over $10,000 and could be at risk of more downside.

Related Reading | Bear Trend Begins To Take Hold In Bitcoin For First Time Since October 2020

The resulting consolidation below the first major resistance level since $20,000, has potentially formed a descending triangle pattern – a chart pattern that has been devastating for Bitcoin bulls in the past.

bitcoin descending triangle

The top cryptocurrency is potentially breaking down from a descending triangle | Source: BTCUSD on TradingView.com

Descending triangles are typically bearish patterns, that result in a strong move to the downside once the bottom horizontal support line is breached.

That breach, might be taking place today, and a deeper plunge is possible if the pattern confirms as valid.

How Past Instances Of The Pattern Breaking Down Impacted Crypto

Anyone who has been invested in Bitcoin since 2017 should be more familiar with the descending triangle pattern than they would like to be.

It was the pattern that took the cryptocurrency to its bottom at $3,200 after trading inside the structure for nearly all of 2018.

bitcoin descending triangle zoomed

Past descending triangles have always hit their respective target | Source: BTCUSD on TradingView.com

Another descending triangle formed at the top of the 2019 rally. Both instances of descending triangle nailed their respective targets based on the measured movement inside the pattern itself.

Targets of descending triangles are found by taking the highest point of the triangle, and measuring to the horizontal baseline support. Ascending and symmetrical triangles are measured in a similar manner.

The distance in price traveled percentage wise within the pattern is typically the same distance to the formation’s target, post-breakout.

Related Reading | Evening Star: Reversal Pattern Could Sunset Bitcoin Price Action For Weeks

If the current descending triangle does the same and reaches its target, the measured move should result in a drop to around $23,000.

Bulls will need to defend the level to resume the uptrend, or bears will have the chance to keep pushing prices lower, potentially back into a downtrend as was the case in 2019. Where does Bitcoin go next?

Featured image from Deposit Photos, Charts from TradingView.com
Tweet123Share196ShareSend
Tony "The Bull" Severino
Tony "The Bull" Severino

Tony "The Bull" Severino

Tony "The Bull" Severino, CMT, is a distinguished figure in the cryptocurrency analysis sector, renowned for his in-depth technical expertise and innovative approach to market trends. As the Head of Research at NewsBTC, Tony leads a team dedicated to providing cutting-edge insights and forecasts, helping both novice and experienced traders navigate the complexities of the crypto market.
A seasoned Chartered Market Technician, Tony's prowess in identifying and capitalizing on market patterns is unmatched. His academic and professional journey in market analysis has firmly established him as a leading authority in technical trading strategies. Tony’s approach is heavily influenced by the principles of Elliott Wave Theory, a method known for its rigorous assessment of investor psychology and price movements.

Read more

Beyond his role at NewsBTC, Tony is the visionary founder of CoinChartist.io, an educational platform aimed at demystifying the nuances of cryptocurrency trading. CoinChartist.io serves as a valuable resource for traders seeking to enhance their technical analysis skills. The platform offers a range of learning tools and resources designed to empower traders with the knowledge to make informed trading decisions.

In addition to his educational initiatives, Tony is a prolific author and a dominant voice in the crypto community. He writes the CoinChartist VIP newsletter, a weekly dispatch that has become a staple among crypto enthusiasts, revered for its insightful analysis and actionable trading advice. This newsletter has consistently ranked as a best-seller on SubStack, boasting thousands of subscribers who rely on Tony’s expertise to guide their trading strategies.

Tony is also celebrated for his literary contributions to the field. He is the author of the highest-rated Crypto Trading Journal on Amazon.com, a testament to his ability to communicate complex trading concepts in an accessible manner. This journal is widely regarded as an essential tool for traders aiming to track their progress and refine their strategies.

Before his ascent in the financial analysis world, Tony honed his skills in journalism. His background in this field has endowed him with a unique ability to present intricate market dynamics in a clear and compelling manner, making his insights highly sought after by a broad audience that ranges from casual readers to professional traders.
His professional affiliations underscore his commitment to excellence and continuous learning. As a partner of Elliott Wave International and TradingView, Tony collaborates with other leading experts to enhance his knowledge and skills. His active membership in the CMT Association further aligns him with the highest standards of industry practices and ethics.

Tony’s nickname, "The Bull," aptly reflects his aggressive and optimistic outlook on the cryptocurrency markets. His forecasts often anticipate significant upturns, earning him a reputation for bullish predictions that have frequently led to lucrative outcomes for those who follow his advice.

In summary, Tony "The Bull" Severino, CMT, is more than just a technical analyst; he is a mentor, educator, and innovator whose influence in the cryptocurrency space continues to grow. His dedication to advancing the understanding of market forces and his commitment to providing high-quality, reliable analysis make him a pivotal figure in the world of cryptocurrency trading.

Close

Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

Related News

仮想通貨投資の注目銘柄|イーサリアムの成長とネットワーク拡大が示す好機

仮想通貨投資の注目銘柄|イーサリアムの成長とネットワーク拡大が示す好機

イーサリアムは2,500ドル(約39万5,000円)を維持するのに苦労している。2025年5月10日以降、価格は2,750ドルから2,400ドルまでの狭い範囲で動いている。 最近、ETHの価格は9%下...

Yohei Hanazato 6 hours ago
Best Altcoins to Buy Before Bitcoin Becomes 'Exponentially Harder to Buy'

Best Altcoins to Buy Before Bitcoin Becomes ‘Exponentially Harder to Buy’

‘No force on earth can stop it’ is what Michael Saylor, Strategy’s founder, had to say about the digital gold...

NewsBTC 6 hours ago
ミームコイン注目銘柄|暴落相場は調整か、それとも本格的な下落か?

ミームコイン注目銘柄|暴落相場は調整か、それとも本格的な下落か?

暗号資産市場は今、価格が激しく変動しています。ビットコインは10万6,000ドル(約1,660万円)から下がりました。多くのアルトコインが値下げしたため、「暗号資産 暴落」が話題になっています。 投資...

Yohei Hanazato 6 hours ago
Load More

Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Ad discliamer

Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.

Related News

Bitcoin

Bitcoin Maxi Max Keiser Isn’t Buying The Hype Around New Crypto Holding Companies

Christian Encila 4 hours ago
Bitcoin

Bitcoin Tipped For $340,000 Target If This Support Level Holds – Details

Semilore Faleti 5 hours ago
急成長中のLayer 2 ICOがあと15日で終了 — 今注目の仮想通貨おすすめプレセール

急成長中のLayer 2 ICOがあと15日で終了 — 今注目の仮想通貨おすすめプレセール

Yohei Hanazato 6 hours ago

Premium Sponsors

Top Brands

Press Releases

  • RIPPLECOIN Mining creates stable income cloud mining...

    3 hours ago
  • How to Make $10,000 a Day: XRP Enthusiasts Live the Dream...

    1 day ago
  • Quickly Earn $18,970 a Day — Cryptomining Firm Allows...

    1 day ago
  • Kyrgyzstan solidifies role as Central Asia’s leading...

    2 days ago
  • RIPPLECOIN Mining upgrades free cloud mining, BTC, XRP...

    2 days ago

Newsletter

Be the first to get the latest important crypto news & events to your inbox.

  • This field is for validation purposes and should be left unchanged.

About Us

NewsBTC is a cryptocurrency news service that covers bitcoin news today, technical analysis & forecasts for bitcoin price and other altcoins. Here at NewsBTC, we are dedicated to enlightening everyone about bitcoin and other cryptocurrencies.

We cover BTC news related to bitcoin exchanges, bitcoin mining and price forecasts for various cryptocurrencies.

Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

Company

  • About Us
  • Advertising
  • Contact Us
  • Privacy Center

Social

© 2025 NewsBTC. All Rights Reserved.

  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play Games
  • Casinos
Advertise

© 2025 NewsBTC. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.