In the short-term Golem has turned bullish against Bitcoin, with the cryptocurrency surging to a fresh 2019 trading high, after a bullish breakout above neckline resistance.

The large inverted head and shoulders pattern currently in play on the four-hour time frame suggests that the GNT / BTC pair has scope to trade even higher. The overall upside objective of the bullish pattern would take the cryptocurrency towards the December 4th, 2018 trading high.

Technical indicators are bullish on the four-hour time frame, although the Relative Strength Indicator is showing that the GNT / BTC pair is currently overbought.

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