descending triangle
A descending triangle is a technical analysis chart pattern that typically indicates a bearish trend in financial markets. It is formed by a series of lower highs and a horizontal support line, creating a triangle shape that slopes downward. Traders often look for a breakout below the support line as a signal to sell or short the asset.
This pattern can be found in various markets, including stocks, commodities, and cryptocurrencies. The descending triangle suggests that sellers are gaining strength, while buyers are unable to push prices higher, leading to increased selling pressure as the pattern progresses.