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Bitcoin Pullback Only Retests Yearly Open

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forexbrokr.
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Direct from the desk of Dane Williams.



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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