Chart of the Day - Tuesday, May 20, 2025

🏆  Today's Chart of the Day was shared by Ricardo Sarraf (@nullcharts).
 

• Bitcoin is flirting with all-time highs again for the first time since January. It officially broke out on Sunday, but today could mark the first close above $107k. 
   
• It peaked ahead of stocks in January and bottomed along with the S&P 500 on April 8th. After correcting -28% on a closing basis, Bitcoin found support at former resistance, around $76k.
   
• Bitcoin is emerging from a four-month base, setting the stage for a new leg higher. The recent correction was healthy, as it shook out the weak hands and cleared out some of the post-election froth.
   

The Takeaway: After shaking out the weak hands, one of the strongest uptrends in the world has potentially resumed as Bitcoin emerges from a four-month corrective phase.