Bitcoin markets turned around right away on Friday to wipe out the losses from Thursday, as cryptocurrency markets continue to get a bit overdone. Nonetheless, this is a bullish sign, and it looks as if we are ready to go looking towards the $50,000 level which, based upon the technical analysis, makes sense on several fronts. You could make an argument for a bullish flag which measures for a move above the 50-day EMA, but even before we had that form, we had a previous bullish flag which sat right at the top of the previous consolidation area that sat between the $30,000 level and the $40,000 level. Because of this, ... (full story)