Bitcoin Broke Its All Time High!

Sit back and enjoy.

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New ATH!

Bitcoin just broke its ATH!

It’s a big day for Bitcoin.

The world’s largest cryptocurrency by market cap just topped its previous all time high price of $64,834.44… reaching as high as $66,906.11 this morning!

BTC hits $66,906.11

Market Analysis

Crypto market sentiment and my take.

Target Price Range: $58,000-67,000

I’m still watching the same target price range of $58,000-67,000 to see whether or not $67k reveals resistance. On the upside, I’m waiting to see if $74,000 is possible.

Uncharted Waters

Bitcoin is in price discovery mode…

again.

The new all time high comes as the first ever Bitcoin futures ETF launches. Plus, there’s talk of more ETFs coming. The “buy the rumor, sell the newstheory around the ETF approval and launch hasn’t yet happened. We did see an element of this when Bitcoin topped $64,000 in mid April around Coinbase going public. In the days following Coinbase’s public listing, Bitcoin began a descent to 2021 lows.

Now, however, Bitcoin is back.

What to watch:

  • short term retail selloffs

  • upcoming daily closes

  • upcoming weekly close

Any correction at this level would be normal. I’m watching the lower end of the $58,000-67,000 price range the most. Between $58,000-60,000 is key.

Bitcoin needs to prove support at or close to that $60k price point and that requires continued daily closes above $60k and another strong weekly close.

If $50,000 was a critical psychological level, every round numbered price beyond the all time high price is that much more important. Tests are coming.

I spoke in depth about recent and upcoming daily and weekly closes in this week’s paid edition of the newsletter.

Read that email HERE or become a paid subscriber to get everything about Bitcoin and crypto moving forward.

Zoom Out and Enjoy

Sit back and enjoy the day.

While you watch Bitcoin test new highs, zoom out and consider how far we’ve come. The upcoming months could be wild so it’s crucial to keep expectations in check and have a strategy when it comes to holding, buying, selling, or mining.

$100,000 is being touted as the next major price level to test before year’s end and some have called for $135,000+ in 2021 with stronger moves in Q1 2022.

I don’t know what the rest of Q4 will bring but I do know it will be interesting. On the downside, $42,000 and $30,000 appear to be strong support levels.

It’s possible that $50,000 is also support and that $58,000-60,000 could be if we continue our current trajectory but it’s too soon to tell. I’ll be watching the markets closely and am here to keep you informed. Today, I just wanted to check in and celebrate a historic day in Bitcoin!

2021 Predictions


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$66,770.79—BTC Today

I am not an investment or financial advisor. All opinions expressed are mine alone. Read the full DISCLAIMER on the About page.