Hey team,
Just before I took my break over Christmas/New Year, my last Bitcoin blog talked about Bitcoin making a run at all time highs at 20K.
Amazing how I can check out for two weeks and return to 30 being obliterated.
What's that saying about not buying all time highs because it's too risky?
I think you'll find that buying all time highs is actually one of the safest trades you can make.
Human beings huh.
Bitcoin Retests Yearly Open
Onto today's analysis and I think the underrated storyline of the day is the fact that Bitcoin's pullback has only seen it retest the yearly open.
Pretty wild when you put a 5K pullback like that.
Take a look at the Bitcoin daily chart below.
BTC/USD Daily:
With no historical zones to guide our support/resistance analysis, we rely on psychological levels such as round numbers and significant open or closes such as this.
Relax, it's all good!
Best of probabilities to you,
Dane.
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