Today I want to talk real quickly about Bitcoin antics. This is not financial advice. I am not a CPA and I am not a trading advisor.
I want you to look at the weekly chart with me, because I want you to be ready for this as we move forward into the bull market. I started trading Bitcoin in 2017, and here is what I have learned: Bitcoin will do everything it can to shake out the weak hands.
Look at the history. After the bear market low in December 2018, Bitcoin ran all the way up to roughly 14,000, and then it fell right back down to around 3,700. Granted, that drop was Covid. Now look at the last cycle: from the 2022 low we rallied to about 32,000, roughly a 100 percent move, and then we pulled back about 25 percent. Moves like that are normal. That is how Bitcoin behaves.
So here is why I am showing you this. I would not be surprised if Bitcoin ran to 100,000 from here. And I also would not be surprised if it paused right here, rolled over, and went back to retest the support zone below. Either one is completely normal, and either way I do not think it changes the bigger picture.
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