Analysis: Bitcoin primed for a price break out - Decrypt
Bitcoin is sitting inside a mammoth 5-month trading pattern—with a possible breakout approaching in the next 10 days. The pattern is called a symmetrical triangle, and refers to a chart characterized by two converging trend lines connecting a series of sequential peaks and troughs.
Looking back over the last 160 days, bitcoin's price sat neatly inside this pattern–the first signs of it emerged in May this year, when bitcoin's price rallied from a low of $5,000.
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Looking back over the last 160 days, bitcoin's price sat neatly inside this pattern–the first signs of it emerged in May