Bitcoin has gained around 18% over the last three days after reaching support at $20,000 on Friday. This comes on the heels of major banks collapsing and the US government quickly stepping in stating they will protect depositors in full.

Bitcoin is on third down at the 9th yard line, 4 points behind the challengers (team FUD) at the fifth edition of the new world currency wars. The goal line is represented by Bitcoin’s 200-week simple moving average.

Bitcoin broke through its support level today opening the door for lower prices. The lost level of support that could now turn into resistance is at $22,500 and is also exactly were the 20-day exponential moving average is.

The most recent rally in Bitcoin last week brought BTC back above $20,000 and erased much of the “price” damage done by the FTX collapse, though many have called last week’s move market manipulation, I think that’s just an easy way of saying you don’t know why a market is moving.

Bitcoin kicked off the new year at $16,531 (Coinbase) and closed on the first day of January only $10 off of the highs at around $16,620. Closing on the highs was just one clue that BTC was about to turn bullish.