Bitcoin Breaks Out

$BTC

This is what the breakout in Bitcoin looks like. The downward trend from March of this year, with lower highs and lower lows, has now been broken. $BTC is currently at $71,200 at time of writing. Momentum indicators aren’t stretched by any means (RSI still sub 70). There’s a very real possibility this goes on a tear from here, and a 1.618 fib extension from prior highs suggests upside near $100K. Things are never that easy, but risk managing against $69K limits downside. This becomes a core position in my portfolios at these levels.