The Hodlers are back in town, pushing Bitcoin back above the $50K level after weekend trading, but its all relative given the mammoth drop from a few weeks back that sent it down to the $45K mark. Its struggled ever since to find headway with a series of failed breakouts and even lower prices. That medium term downtrend line is nowhere near under threat – until maybe a Santa rally? Find a Bitcoin in your Santa Sack?
Meanwhile, the technical picture for the Australian dollar is firming to the upside in the short term with an inverted head and shoulders bullish breakout pattern fully formed on the four hourly chart:
Combined with the breakout above the daily downtrend line that has held for over a month, retracing most of the calendar year growth in the pair, we could be looking at an imminent breakout.
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