BTC descending triangle support breaks, support down below

25 Mar 2021

Yes I know, I've been told that Bitcoin doesn't always follow asset theories, but it sure did this time by breaking through a bearish descending triangle.

Not sure I drew an exact symmetrical triangle triangle but it does help to identify a potential area of support that we can work off of.

25 Mar 2021

Not

Reinforcing this support level.

26 Mar 2021

Not

Confirming support at 51450 but unable to break back into the triangle so far.

26 Mar 2021

Not

And we are back into the triangle.

27 Mar 2021

Not

Rejected off the downward trend line at the top of the triangle.



We'll see if we back track and then break out, or whether we follow the triangle down. I would expect the latter.

27 Mar 2021

Not

Surprise breakout!



Let's see if this holds.