Hungry investors
If last week was a bit volatile in the markets, it looks like traders and investors have come back this Monday with a hearty appetite for risk assets and technology.
The FAANG stocks are flying today, all accept Google, who had a few issues this morning, but as of this writing, their stock has managed to find its way back to being in the green.
Bitcoin is also leading its peers higher today, as the bullishness in this particular market has resumed with a vengeance.
It's incredible to see this much bullish action, even as we consolidate near the top.
One tool that is particularly useful for bitcoin right now is the Fibonacci retracement lines, which tell us, given a certain move, what the most likely levels for retracement are, by using Fibonacci's theorem for finding patterns in nature.
If we trace the movement from $10,000 to $20,000 that we witnessed over the last few months, we can see that the second fib level (green line) has already held as support, and now we are ranging between the first fib (red line) and the top.
