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Bitcoin's $20,000 Question

Published 06/20/2022, 01:14 AM
Updated 07/09/2023, 06:31 AM
BTC/USD
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For those who may have missed it, I bought BTC as close to the bottom as I think humanly possible (which, for me, is sort of a lifetime first for ANY asset).

I dumped it for a 9% profit about an hour afterwards. I mean, honestly, the price I paid was SIX-THOUSANDTHS of a single percent point away from the lowest price of the day.

Maybe I should have held it just because I got so lucky!

BTC Chart

But here’s the far more important thing: the fact that crypto has broken key support. In particular, the Big Round Number of $20,000 is all that matters for BTC. Indeed, as I am typing this, it got within FIVE BUCKS of it (!!!!!!!!!!!) before falling again. Key an eye on crypto.

BTC Price Chart

Whether it can accomplish getting back above $20,000 by pre-open on Tuesday will inform the stock market’s direction.

Latest comments

Great bounce today. 15 year SPY caught my attention. When RSI hits 30, it pretty well jumps towards 50. The bear is still intact, MACD looks horrible but, nice gaps to fill.
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