BTC Descending Triangle Fake Breakout Still in Effect

The $7700 support held following the breakthrough of the major support at $9300 of the descending triangle pattern that was forming these past few months. This sets up the possibility of the fake breakout we see in the crypto market where the market drops to shake out investors then strong buy volume gets introduced and drives the price to new highs. However for this fake breakout, note that descending triangles are more often bearish then bullish and the bearish fakeout is generally seen on an ascending triangle before moving up. With this in mind, the $7700 support holding signals it is possible we move up from here. Watch to see if we break this support over the next week or two.