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Bitcoin (BTC/USD) Starts the Year on a Bullish Breakout

Bitcoin $BTCUSD rallied sharply during the 1/2/2018 US session, from around 13.5K to about 15.2K before stalling. 


(click to enlarge)

- The rally broke above a falling resistance.
- This is a bullish sign that goes against my bearish assessment for BTCUSD last week
- Still, note that price is being tested by the 200- and 100-period simple moving averages in the 4H chart. 
- If price holds above 14K, maybe it will indeed push towards the 16.5 support/resistance pivot. 
- Next, there are 2 events that would convince me a bull run towards 20K is coming.
- 1) If price pushes above 16.5K. 
- 2) If price starts to anchor (find support) at 15K.  

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