Monday 26 October 2020

What could bitcoin's false breakout pattern mean

What could bitcoin's "false breakout" pattern mean? Bitcoin recently attempted to break above a key trendline resistance and triangular pattern formation. However, it appears bitcoin has failed to stay above that key resistance level and today BTC has fallen below that level. But could this mean? What do "false breakout" patterns mean in technical analysis? We ask Jack Schwager for his view as well and look at the charts. Video by Alessio Rastani.