Many people compare the current Descending Triangle with one we had in 2018. The difference is that the 6k to 3k drop was in a downtrend - we are still in an uptrend. Different environment.

Let’s take a look at another Descending Triangle, which happened in Summer of 2017 at the peak of a bull run. We are definitely seeing some similarities with the current one.

Pay attention to one detail which I find interesting – the 147-Day EMA. It is an imitation of the 21-Week EMA, which supported …