The weekly chart has flipped two extremely key levels to support - at least for now. What are those levels? The 50 MA (blue meandering line) and the area around $45,500, which I have been discussing ad nauseum for months. This "should" signal that Bitcoin has exited accumulation and is completing the bottoming process. But Bitcoin has a way of defying technical analysis and logic, so nothing is certain. We really want to see these support levels hold in the coming days and weeks.
scott.melker@texaswestcapital.com