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Bitcoin is beginning its next leg up: Canadian Whale

Yahoo Finance's Jared Blikre updates with the latest in the crypto space.

Video Transcript

JULIE HYMAN: Also this morning, we are seeing more action in Bitcoin after a certain Elon Musk just stuck the word in his Twitter bio.

JARED BLIKRE: Yeah, and I'll tell you what, let's pull up some charts here because Bitcoin had been consolidating. This is a one month chart that we have here. And I've been talking about this negative trend line that it just couldn't seem to get past. But we did find some support at 30,000 and we lifted off yesterday, and follow through today.

So the technical setup was there. We just needed a catalyst. I will say, I quoted The Canadian Whale-- Yves Lamoureux-- who I consider the best Bitcoin timer. He was emailing me yesterday afternoon. I wish I would have tweeted something at the time, but there were other things going on. Nevertheless he believes this is a new leg up. So forget 40,000-42,000, this could be the blockbuster move that a lot of people have been waiting for.