Bitcoin cracks $81K but can't maintain the breakout

00:00 Scott Melker

Bitcoin broke above $81,000 before retracing.

00:04 Scott Melker

Is this move over? Is it the beginning of a new bull market or are we looking for a retracement and lower lows?

00:10 Scott Melker

Personally, I'm looking to start buying dips aggressively, which I've been doing the whole time, but I will tell you why.

00:16 Scott Melker

And we'll dive into all the news that's informing that opinion. Let's go.

00:27 Scott Melker

What is up everybody? Welcome to the Daily Wolf on Yahoo Finance. I am your host, Scott Melker, also known as the Wolf of All Streets.

00:33 Scott Melker

We spent many months not talking about the price of Bitcoin because it was perpetually 60 or 61 or $62,000.

00:41 Scott Melker

Now, of course, we need to lead with the general price action on every show.

00:48 Scott Melker

And my messaging will probably be rather consistent until we see what plays out next.

00:54 Scott Melker

So in case you missed it, here's what happened overnight. Bitcoin reclaims uh 81,000 but bulls face key resistance.

01:04 Scott Melker

So no point in bringing up the charts. I'll just tell you what I am personally thinking here.

01:10 Scott Melker

So we've endlessly talked about the reason that Bitcoin went up. Breaking above 80,000 is really important.