derronpocci
Long

Descending Triangle OR Falling Wedge?

POLONIEX:SCBTC   Siacoin / Bitcoin
Im trying to see what POLONIEX:SCBTC             is forming with its COINBASE:BTCUSD             pair.

From the first pump, it looks like it could be a Descending Triangle , since the buyers are showing nice support at 0308. But we still need to watch the price action to see which side of the triangle the candle closes.

BUT I can also see this being an awkward looking falling wedge which would be a bullish continuation.

I am looking forward to seeing if we can hold support at the 0308 level.


At the moment, it looks like Bitcoin             is going on a bull run up the price channel soon so maybe that will help kick start the sia bull run as well.
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