Bitcoin about to break downtrend
Bitcoin has been in a downward channel since the November highs, but appears to be on the verge of breaking out. Confirmation would be needed on a daily close above $49,300 and upward targets would be first $53,700 followed by $60,000. If the price is able to break above $60,000 and hold it as support on the daily timeframe, that would confirm a high probably of new all time highs shortly after. If however, we are not able to break above the downward channel watch out for a retest of the recent lows.
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