Bitcoin Breaks Wedge - Still Weak

Please note : this is all opinion and should not be taken as financial advice.

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Bitcoin has broken out of the wedge that was forming from lower highs and higher lows over the past 2 months. It broke out and moved up but not all that dramatically. Currently it's sitting at $9370 USD (up 2.31%).

This move is positive in the short term but it hasn't been as strong of a break out as some where hoping for. Downward pressure continues.

The 10 day MA is still below the 50 day moving average, however the gap seems to be narrowing. If Bitcoin can stay up or better yet keep moving up (even in small amounts) over the next few days we may see a cross indicating a trend shift into a bull market!

As has been the case over the last week, keep watching closely.

Best of luck traders! 📈