Bitcoin Technical Analysis: Breakout

Bitcoin finally broke up and out of the wedge it’s been consolidating in over the past 2 weeks.

Zooming out on the monthly chart, we can see the last swing high (approximately $8,480) was created back in July of 2018. Price has now officially taken out the prior swing high (on the monthly) of the bear market. In my opinion, this confirms the bottom is in.

Looking at the weekly chart, we can see the 21 week EMA is about to cross above the 55 week EMA…a very bullish indication. That said, we can also see just how extended price is, well

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

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