In last week’s letter, we outlined a handful of key bullish developments leading us to forecast a high probability of an upward resolution from this consolidation.
Alleviation of the selling in futures and renewed spot demand pointed to a high probability of Bitcoin resolving higher out of this multi-month trading range.
As of the writing of this note, we’ve seen this take place, with Bitcoin taking out resistance at 46,000.
More aggressive long positions are now warranted.