My thoughts on Bitcoin and what I'm watching

This is a pretty simple chart of Bitcoin showing two key things I am looking at. First of all, congrats to everyone who has held this entire time. That is no small feat. Bitcoin has been volatile for many years. Some have tried to make fun of it. But it has managed to hang in there each time. So congrats! Above 16,000 is a powerful. On a weekly chart, that is one of its highest closing prices ever.

Now, what's next?

First of all - the highs from $18,000 to $20,000 back in December 2017 and early 2018. This is a big level. Why? Well, you would be surprised at how many people bought at those levels and actually can't wait to get out. I'm not sure people, after going through that process, would plan on hanging on. Or maybe they've already been washed out. We will find out.

Secondly, what I find interesting are the two arrows I have pointed to on the chart. These are noticeable volume differences. Indeed it is possible the first time around was more retail focused, chaotic, and actually rather bearish. The sudden surge of volume shows how irrational it was. This time it is slightly calmer. Watch this carefully. When will volume reappear?

Thanks for reading and congrats again to the longs! I only own a little and maybe at some point will own more. Not sure.