Check Out This Chart

Gareth Soloway compares the almost year-long downtrend in Bitcoin to an Ali Baba chart to show what can happen when a major trendline breaks to the upside.

The break of the trend doesn’t mean the price is off to the races. It still has quite some consolidation to go and possibly a retest of the trendline (as the line heads much lower) to flip it into support.

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