Currently: Cash Looking to: Buy now
As of 2/28/21 @ 12:25pm EST: 43,795.37
LAST WEEK: We suggested buying BTCUSD on a dip to 32,000 – 42,000 with stops on a close below 30,000.
UPDATE: Bitcoin is under pressure as this is being typed. The recent spike to 58,637 appears to have been the end of wave “V” higher. The current pullback appears to be a retracement of the five wave move that started in 2015 and just terminated. The Fibonacci retracement levels come in at 44,618 (already in jeopardy), 36,113, 29,238 and 22,364. We would look to buy BTC at current levels (43,673) today (2/28/21), but would honor stops if the close 2/28 is below 44,618. If support breaks, exit and re-buy at 36,113. Upside target in either case is 100k+.