BTC Falling Wedge Breakout
On October 26th 2019 the price of BTC seemed to be breaking out of the falling wedge while reacting to new about the Chinese government endorsing blockchain tech . However, without any convincing candles closing outside of the formation, selling swiftly resumed. The price the slide down to the original trend line which it validated over the last months of 2019.
2020 has started with a boom where a moderate uptick in volume pushed the price though the downtrend line. It has now closed three consecutive days outside of the wedge confirming a breakout. Resistance was first seen at the 21 week moving average and a break above that would further confirm bullish sentiment.
2020 has started with a boom where a moderate uptick in volume pushed the price though the downtrend line. It has now closed three consecutive days outside of the wedge confirming a breakout. Resistance was first seen at the 21 week moving average and a break above that would further confirm bullish sentiment.
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