Bitcoin Making Another Run at 20K All Time Highs

Direct from the desk of Dane Williams.

Hey team,

Writing is such a habitual task, isn't it?

I take a personal day on Sunday, the site goes down on Monday and by Tuesday I'm completely out of the zone and can't put a single word on the page.

Heading into Christmas and New Years, we'll have to see how we go but I'm expecting a bit of a wind down.

It is what it is.

So is today the day?

If you follow this blog, you know my trading strategy focuses on only doing business around higher time frame zones.

Since last tapping the resistance zone surrounding Bitcoin all time highs, price has really just floated around in no man's land between zones.

Price action that means absolutely nothing in the scheme of things.

But take a look at the current daily chart below and where price has now returned to.

BTC/USD Daily:

Yep, back testing the higher time frame resistance zone where we should start to take notice again.

My thinking is always that it's resistance until it's not so we wait and see how price reacts.

If higher time frame resistance holds, then find the last area of short term support turned resistance and short into that.

If the higher time frame zone breaks, then do the opposite by finding the last area of short term resistance turned support and long into that.

Best of probabilities to you,

Dane.

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