Bitcoin Recovery??

Bitcoin has just broken out from a bull wedge pattern. It could have gone either way, since the trend was actually bearish before the consolidation pattern. We are above 50.8K, which is a support level. This is a good sign, but if it is a fake out, and we retrace further, another smack down could bring us all the way back to 45K or even 42K. The next level of resistance will be 53K, and we have one more level to go before highs. Don't get too excited for new highs just yet. Bitcoin typically feels out a large range for a while after a retracement before making a run for highs again so be patient and add on dips.