Bitcoin is once again testing the top of what appears to be a bullish ascending triangle. In my last update we discussed expecting resistance around $5,350. Daily volume remains relatively strong at just above $13 billion.
At the moment, most analysts are monitoring the 50 and 200 day MA. Will we get a Golden Cross?
Shorts have been stacking over the last 48 hours while longs are dropping. This does suggest a break up…at least temporarily to liquidate short positions.
While things are looking good for bulls overall, the bears may not yet be done fighting.
In today’s analysis I discuss the bullish and
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