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  • Writer's pictureTLivingstonBlog

Bitcoin Crosses $60,000 And Looks Poised For Much Higher Prices

Updated: Nov 16, 2021

Bitcoin is continuing its' extraordinary run and is now trading above the pivotal threshold of $60,000. What impresses me most about Bitcoin is how it has yet to close below its' 10-week line despite moving from $10,000 to $60,000 in less than a year. I also really like the tight, low volume consolidation Bitcoin built over the last few months. It indicates to me that demand for Bitcoin is still solid and likely to lead to much higher prices.

After breaking out of a huge cup and handle base in the fall, Bitcoin found support at its' 50-day moving average and began to form an ascending base pattern. This is a rare pattern that is found in only the most powerful setups.

I added to my position this weekend and will continue to remain bullish on Bitcoin until the market proves otherwise. As Jesse Livermore once noted, "The prudent speculator never argues with the tape. Markets are never wrong, but opinions often are."

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Full Disclosure: I currently own Bitcoin.

Full Disclosure: This post contains an affiliate link to Gemini.

Disclaimer: This information is issued solely for informational and educational purposes and does not constitute an offer to sell or a solicitation of an offer to buy securities. None of the information contained in this post constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is suitable for any specific person. From time to time, the content creator or its affiliates may hold positions or other interests in securities mentioned in this blog or the associated Twitter and Instagram feeds. The stock or stocks presented are not to be considered a recommendation to buy any stock or stocks. This material does not take into account your particular investment objectives. Investors should consult their own financial or investment adviser before trading or acting upon any information provided. Past performance is not indicative of future results.


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