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Commentary
Our Bitcoin analysis on the 02.04 we highlighted that the market broke-out of it's ascending triangle pattern towards the next resistance level at around $5200.
We can now see that prices have consolidated around $5200 which is now acting as a support level and the market has accomplished a golden cross with the 50 day MA crossing the 200 day MA.
The golden cross indicates potential for a major rally but can also be a false signal so we maintain our bullish stance as long as the key Fibonacci support level of $5244 holds, if this level breaks we will re-evaluate.