Bitcoin Ascending Wedge Breakout

Bitcoin / U.S. dollar BITSTAMP:BTCUSD

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As tech and risk-on assets have been getting crushed Bitcoin has followed its peers . It is interesting to note the amount of correlation the cryptocurrency has had to the major American US indexes, particularly the S&P 500 and the Nasdaq Composite (Tech Stocks). However, the largest cryptocurrency is in the midst of an ascending wedge . This could lead to a breakout, either to the upside or downside. Stay frosty.

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