Bitcoin Pushing to Break Wedge, Gathering Momentum After Consolidation
Bitcoin is trading higher for the fourth consecutive day, it's longest winning streak since April of this Year.
Price continues to hold inside the wedge and within the more general arc we've previously described in these pages. We expect a major move out of the arc, considering timing and the slight upturn on the MACD, the current momentum favors the bulls coming out of the arc on a bullish break out of the wedge. Bears can point to flat and declining volume trends to support a break below $28,800.