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.
