The famous Bitcoin triangle – Finally broken!

We all know about this triangle which we have followed for months now….

The triangle, which was formed from the highs in March has finally been broken and the confirmation for this is the fact that it is now serving as a support for the price (see image below).

Where will the price go?

Normally, when a triangle is broken we would expect a massive price fluctuation but up till now this has not yet materialised. The price of bitcoin has been trading at these levels for quite some time and surprisingly its volatility has been much lower than that of the equity market!

The breaking of the triangle is an important step forward although the next step now is to look if the spot price manages to break through the 20 and 50 MAs.

What do you all think?

 

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