Bitcoin (BTC) seems to have made a recovery the last few days but since the beginning of this month, it has been trading in a big rising wedge that extends all the way to Bitcoin (BTC)’s downtrend resistance. The above daily chart for BTC/USD shows that the price has room to rally till $ 7,500 as mentioned in one of our previous analyses but any positive momentum at this stage will most likely be short lived as Bitcoin (BTC) risks falling back to the $ 5,800 support once it break out of the rising wedge.
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