• nymets21443

Bitcoin Starting To Emerge

Bitcoin cleared $65,000 today with heavy volume coming in. I added to my position for a variety of reasons. First, the weekly chart shows that bitcoin is really not extended from a long-term point of view. In fact, it still has not made a new all-time high yet and looks like it still has room to run. Second, with the 20-day EMA below, bitcoin is offering a very solid set up in terms of risk to reward. Finally, the heavy volume accompanying the break above $65,000 tells me there is conviction behind the move. Bitcoin is by far the largest position in my portfolio, but I was able to build it over time and through various buy points in order to mitigate my risk.

My positions in Solana, Ethereum and Coinbase are all also acting well which is another positive sign for Bitcoin and crypto on the whole.


Risk right. Sit tight.

-Tom


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Full Disclosure: I currently own Ethereum, SOL, and Bitcoin.


Full Disclosure: This post contains affiliate links to Gemini and Coinbase.


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.