Do These Indicators Suggest a Bitcoin Price Rally Early in 2019?

Bitcoin (BTC), the world’s largest cryptocurrency by market capitalization has enjoyed a staggering price increase in excess of 150,000 percent since it was first listed on exchanges back in July 2010.

Since then, the cryptocurrency has also experienced multiple bull runs, bear runs (the longest of which consumed much of 2014 and 2015) and stronger media attention year on year.

From a technical perspective, the relationship BTC has with traditional charting patterns is occasionally counter-intuitive to what one would normally expect.

Take, for example, the descending triangle which is typically bearish in nature.

While it does contain the prospect for breaking either way, the repeated failed (bearish) descending triangle breakdowns over the course of bitcoin’s life cycle, leaves an unanswered question, are we viewing these patterns the wrong way? And if so what makes this year different?

The case for bitcoin’s bullish breakout

Weekly chart

Bitcoin’s relationship with the…