My first technical review of Bitcoin -3.6%BTC -7.9% in March 2018 “A Technical Lesson In Bitcoin” I explained how I felt the technical methods that I have used for decades on stocks, bonds commodities, and currencies could also be useful in determining the path for Bitcoin.

In that article, I applied pivot analysis to point out that I thought the wildly bullish forecasts of a rise from around $8500 to over $30,000 were off target. As it turned out in December 2018 it had a low of $3251. To me basing a price projection on actual data has always been the best strategy.

In April of 2022, even though Bitcoin has declined 20% from its yearly pivot at $48,259, I saw the headline “Experts Say Bitcoin Could Hit $100,000 …” so in my view this warranted a new objective technical appraisal.