Bitcoin: Exit the sell trade, it could be headed to above $52K

Bitcoin's backed a symmetrical triangle breakdown on the hourly chart early today and has now risen back to $51,300

Its best to exit the short trade recommended yesterday and sit on the sidelines.

5- and 10-day SMA crossover still paints a bearish picture, but Coinbase Pro outflows + Coinbase IPO + news of CGI filing for ETH ETF could bring buying pressure, yielding a test of the 5-day SMA above 52K.