Bitcoin (BTC)
It’s been a little … “chaotic” for crypto the last few weeks as overleveraged buyers closed out their positions and a firesale saw the market crumble.
But don’t give up on today’s Chart of the Week just yet — crypto’s poster child, Bitcoin (BTC).
Sentiment may be skewed negatively, but I love the undercut of the former lows.
Bitcoin may have had a rough go the last few weeks, but as long as BTC is above $30k, we are long, with a target of $47,000.
It could go up from there to mid 70s or even 100k, but it’s not about how high it can go here, it’s about great upside with clearly defined, minimal risk. So we are long BTC so long as it is above 30k with our first target at 47k.
Til next week, good trading,
JC Parets
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