The $BTC price has all but arrived at the convergence point of a rising major trendline and the downtrend line. On Friday morning the price has broken through the downtrend, potentially putting the bulls back in the driving seat. Can the bulls sustain the breakout, or is this going to be a fakeout?
Will this breakout be legitimate?
Source: TradingView
It’s happening – or at least it looks like it is. The $BTC price is finally breaking above the downtrend line with a candle body. That said, it’s still early days and until this breakout confirms, a fakeout is always a possibility.
As can be seen in the 4-hour chart above, the $BTC price had almost arrived at the very end of a triangle formed by the convergence of the downtrend and the major uptrend. Had the price continued traversing along, Saturday would have been the last possible day for the breakout. As it stands, that breakout may have now arrived.
If the bulls are to take the lead now, they will need to confir
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