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RE: Bitcoin Confirms Bullish Breakout...Small Correction before Next Wave Up
Nice to see confirmation, the rising wedge also formed on EOS, VERGE since yesterday, but so far nothing dramatic has followed. Interesting juxtaposition of breakout scenarios, comparing to LOG scale. Climbing out of this extended correction is proving to be a drawn out process, leaving room for bearish sentiment, fear of a bull trap.
A bull trap is still possible. I'll feel much more confident when bitcoin breaks out on the LOG scale chart. The one thing that makes this uptrend seem different is the timing. I and many others have forecasted for months the possibility of tax season being a major factor in the downtrending cypto market. Now that tax season is nearly over, it makes sense that a lasting uptrend would begin. We'll see.