Bitcoin Is Trying To Breakout (Again)

by | Jun 3, 2024

Bitcoin Is Trying To Breakout (Again)

Back in March, Bitcoin eclipsed $70,000 for the first time ever. Since then, it’s tried to breach that point once again several times only to fall off in the low 70,000s.

Take a look:

Now, I’ve received several questions asking me about my next move and if I’m still holding Bitcoin.

To answer those questions, yes, I am still holding a chunk of Bitcoin and Bitcoin-related assets. But I’m not looking to make any short-term trades on Bitcoin unless it makes a new all-time high.

At this point, unless we see that level of momentum, I see it bouncing back and forth around the range that it has since late March.

On the flip side, if we see Bitcoin break below $55,000 I would not be surprised if we see a further decline after that point and I will actively trade it to the downside.

That gives us a pretty wide range of “sitting on our hands” until it becomes evident that follow-through momentum (in either direction) in Bitcoin returns.

So I am definitely keeping a close eye on it… But no short-term action until we get confirmation. 

I hope that answers your questions!

— Nate Tucci

P.S. My 3 Rivers Portfolio comes out THIS Friday. Make sure you’re getting that issue by joining right here.

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