Currently: Cash Looking to: Buy @ 41,987
As of 2/20/21 @ 5:03pm EST: 56,290.64
LAST WEEK: We suggested buying BTCUSD on a dip to 32,349 with stops on a close below 32,000.
UPDATE: Bitcoin continues its historic upside run and now has eclipsed (intramonth) the monthly closing resistance level at 54,871. If that level is conquered on a monthly close (next Friday’s close), look for the current up move to continue up towards the next possible target between 74,000 – 75,000. As noted in last week’s report, we are not advocating shorting BTC.
We would look to buy BTC on any dip to the 32,000 – 42,000 range with stops on a close below 30,000.