Quote from: aardvark15 on September 27, 2018, 12:39:26 AM

I believe that this is a bearish signal that the price could likely break below $6000 soon.

Do you agree and if so, when do you think it will drop below that key support level?

There could be a possibility of seeing that happen, no doubt and judging from the way things have been thus far, we will see clearly that the upper line of the descending triangle has been acting as a very strong resistance. Generally, descending triangles have always been a bearish signal for a market, but that does not mean they cannot be invalidated if the market peradventure, tend to break out to the upper part and may be go test some higher resistance. We cannot say when anything we happen, but however and whenever it happens, we will definitely witness it.

Quote from: tigershark on September 27, 2018, 12:49:57 AM

Probably next month it will drop under 6000 but hard to say. I hope it never gets that low again.

It is really hard to say and nothing can be guaranteed yet, looking at the way things have been so far. Secondly, depending on how you want to see it, the market is in a two different sentiment, and then, we can see clearly there could be a possibility of a falling wedge which may be bullish or a descending triangle, however you want to plot your chart. Although, we have seen several attempt to break the $6k support, but that does not mean we would not see a clear signal where we are headed to next when it comes. Let's see how things would be like anyway in the long run.