Bitcoin Stands at a CRITICAL Juncture on a Technical Basis
It's hard to describe just how important the $25,000 level is for bitcoin on a technical basis. Read more to find out why.
- As much as it seems like the stock market has kept rallying this month, it’s actually been range-bound over the past two weeks. It’s just a few big cap tech names that have continued to advance.
- The combination of rising interest rates and falling earnings is not a good one for a stock market that is quite expensive on a P/E basis (almost 19x)…and very expensive of a price/sales basis (2.3x)
- Bitcoin’s daily and weekly charts are telling two different stories. Therefore, whether if breaks 25k in a meaningful way…or fails at this critical level…will be incredibly important for this asset class in the weeks/months ahead.