Bitcoin is shining again with $18,500 high for now. Double top or?
Long time I didn’t wrote anything about the most famuos digital currency Bitcoin. My last and also my second article about Bitcoin was in December 08.2017. “Bitcoin Mania” in which I sow a possible bubble and serious crash, which unfortunately happend. Bitcoin crashed from aprox $20,000 quickly to $6,000 in February 2018 at first and latter to low at $3,200 in December 2018. After that the Bitcoin was in huge range from that low to $14,500 tops and then back again during Covid lockdown in March 2020 to low at $3,800, but that level holds again and formed a double bottom. Since then, Bitcoin is in a strong hands of buyers, reaching a high of $18,500 in this week and for now forming a double top.
Technically, the Bitcoin “works” fine and there is no much fails, that’s how this could be a double top for now, but as the bulls are pushing hard, it could be interested to see how the bears/sellers will react now. Is this the overbought level again in which they will be satisfied to go in to cash positions, or they want more and will allow a higher levels this time. Could we see a new ATH in 2020? Who could tell? How do you see it traders?