On the bisection method for triangles

Let UVW be a triangle with vertices U, V, and W. It is "bisected" as follows: choose a longest edge (say VW) of UVW, and let A be the midpoint of VW. The UVW gives birth to two daughter triangles UVA and UWA. Continue this bisection process forever. We prove that the infinite family of triangles so obtained falls into finitely many similarity classes, and we obtain sharp estimates for the longest jth generation edge.