It’s full moon 30 November 2020 and bitcoin has just broken through its historic all time high! Today is the day folks. Bitcoin has broken all records. Even though it was only for two hours today, just after the full moon lunar eclipse moment.
This is it guys, today is the day, and it’s not even December yet. It’s still a few hours to go before December, what to speak of 2021. And yes indeed bitcoin has done it, broken the all time high, even just for a moment.
So price has broken through and this is historic. What a day to celebrate. I like the coincidence of it being within hours of the full moon, which always symbolises a harvest time or culmination of some sort.
Naturally price has been rejected at the big even psychological resistance of $20k, but we have indeed surpassed the ATH (all time high) reached on 17 December 2017 by about $200, depending on which exchange you look at, of course. Some exchanges may not yet even show the breakthrough, since price varies by a small margin from one exchange to another. That’s where arbitrage is so appealing to some.
The bitcoin price has retraced slightly in the past four hours since the breakthrough, but on the 1 hour chart it is still finding support above the 10 hourly Moving Average, which is profoundly bullish.
The recent retracement from the previous attempt at breaking the ATH (five days ago) was short-lived. If you look at the daily chart, you can see that price fell to the 20 day MA, and actually fell way below it, but then closed above it. So all you see are the wicks of the daily candle that fall below the 20 daily MA. The body of the candle remained firmly above the 20 daily MA.
Also, if you look at the RSI on the daily chart, you can see that the line fell to the middle or 50 mark (actually only as far as 55 to be precise) and then bounced back up quite strongly. One secret of the RSI is that as long as the line is above the mid 50 mark, then we are still in a bullish trajectory. We may see the RSI remain above the 50 level for some time still, if this current trend is anything to go by.
Price has now dipped again below the ATH of around $19800, but only by $400 as I write this, four hours since the historic ATH today. This event may be a mere bump in the long road of bitcoin’s imminent massive pump to the moon, but technically and symbolically it is a momentous event, especially for all the bitcoin maximalists or cryptocurrency enthusiasts globally.
This is indeed a reason to celebrate, so since it is the full moon, let’s put on our moon boots and get ready for further moonshots, as bitcoin flies ever closer to the moon and makes newer and newer all time highs by the day. Congratulations to all you HODLERS out there. Your time has come, and you will be rewarded. This is just the first stage of the bull run of a lifetime.
