BITCOIN just hit the 1D MA50, first time in 1.5 months!

This is a quick short-term update on BTCUSD as the price hit the 1D MA50 (blue trend-line) for the first time since October 01.

In doing so, it established the presence of a Channel Up (blue) that has been trading inside since the October 20 High. This gives rise to 2 scenarios:

a) Either the 1D MA50 holds and sustains the Channel Up whose upper break-out will eventually deliver a +/- $80000 test in December, or
b) It breaks below the 1D MA50 and the dashed Channel Up towards the 1D MA200 (orange trend-line) on an ultimate Support test that will give way to an even greater rebound towards $80000 in December, similar to the August and October rallies.

Which scenario do you think will prevail? Feel free to share your work and let me know in the comments section!



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