Bitcoin formed a swing high and closed below the converging 50 day MA and 10 day MA on Tuesday to set up a potential left translated daily cycle formation. Bitcoin did not deliver any bearish follow through on Wednesday. Instead Bitcoin delivered a bullish surprise. Bitcoin rallied and closed above both the 50 day MA and the 10 day MA, as well as breaking out to a new daily cycle high. Bitcoin is currently in a daily uptrend. If Bitcoin forms a swing low that will indicate a continuation of its daily uptrend and signal a cycle band buy signal. A break above 109818.47 will form a swing low.
Cycle Trading 
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