Bitcoin Breakout + Golden Cross = Be Careful

As predicted in my last update, bitcoin broke up and out of the bullish ascending triangle in which it was consolidating. It found resistance right at the top of the prior order structure created back in November of 2018. Daily volume has spiked above $16 billion.

Shorts are still stacking while longs are stagnant.

We’ve finally seen the 50 day MA cross above the 200 day MA (Golden Cross). While this is an extremely bullish sign overall, it doesn’t come without major warnings.

In today’s analysis I discuss those major warning signs, where I think price is going from here, traps to avoid

About the author: Workin 2005

Crypto: Hated by governments, banks and dictators. Loved by all those who believe in true freedom. Retired airline pilot...full time crypto enthusiast. #Freedom