Traders Must be Loving the Easy Bitcoin Money

Just the other day bitcoin was touching into the 18K area and people worried if the next leg down was gearing up.

Then before you knew it price is back above 21K. This has happened several times of the past month and was likely easy money for traders.

Buy at say 19K, sell when it gets over 21K. Play it till it breaks as they say at trading desks.

I will say this, even though easy money for traders has existed of late the overall chart does not look great.

Looking at the daily chart above I see a rounded top. Volume still remains light. Per the usual some kind of catalyst will likely be needed to see some real volatility to the up or down side.

It is pretty cool that price does continue to hold that 18-20K level. That level become a solid bottom is what everyone is probably wish for.

Makes sense if it turns out to be the ultimate bottom for this move given the 2018 all time high.

Economic climate and performance of stocks will have a big bearing on directional though.

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