One of my favorite questions to the Bitcoin skeptics is: “Ok, but have we seen the all-time high in Bitcoin?”

Not one person, neither Bitcoin lover nor hater, has ever answered, ‘Yes, it will never trade higher than it did in 2017". Not one, ever, and I’ve asked this question a lot.

From my deep and thorough analysis, I have ascertained that Bitcoin haters don’t like money.

1. As it’s rapidly being devalued and they don’t seem to mind.

2. Even if you “can’t buy a beer with it”, why not just buy some and take the profit?

I will message them all as soon as we print a new ATH and ask…

Today feels like the night before Christmas (for all Santa’s good children).

WIth prices primed to move higher, it seems like a good time to figure out where it might stop. Given we are approaching clear skies, resistance levels are going to be hard to come by, so I have resulted to math, courtesy of some 13th century back of a parchment calculations by mathematician, Leonardo Fibonacci. (Fun fact, I named my son Archie Leonard, yes, I am that level trading geek).

From the March low of $4,644 to today’s high of $19,447, the upside target for Bitcoin is $29,100.

The only data I can find that may spoil the new ATH party is the level of Bitcoin’s hitting Coinbase accounts has spiked up during this rally. It’s not enough to stop this dead in its tracks, but it is worth keeping an eye on the behaviors of ‘hodlers’ as we approach the all important $20,000 level.

Technical Analysis

Another strong performance from Bitcoin has seen prices advance towards the all-time high, with just $445 all that stands between the 2017 ICO frenzy high, and today’s Covid-19, economic policy induced rally. Prices bounced from the $18,265 level and after a brief stop at resistance at $19,050, carried on to register a new yearly high at $19,447.

$19,891 is the next stop. It feels almost impossible that having come this close, Bitcoin would fail to print a new all-time high. Above here, we would expect to see some resistance at $20,000.

Should we fail to advance past $19,447 again today, we would expect the market to cool and return first to the $19,050 level, before potentially slipping back down to $18,265.

The Market in Numbers

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