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.
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