Bitcoin - 16k reasonable in 2021
Moving averages seem to be toppy but looking for pretty strong support / buy zone around 7800. Averaging in small amounts every week because I like the long term outlook but will want to deploy a lump sum in the 7500-7900 range... Wouldn’t hurt to go in early at 8250 if your sights are longer term. If BTC holds the 7800 area well we could see a larger measured move towards 2017 ATH in 2021, potentially capping out around 16000 if it doesn’t have steam but could also blow right through it. Generally because BTC is so volatile, you might be able to go fishing with some low buy orders in the 6Ks (I’m eyeing August 2020) but my gut says to deploy around 7900. I think it would be wise to sell some around 16-20k, but definitely not ALL, as Bitcoin could find new support there and keep going but that is a ways off. For now, averaging in no matter what but looking for a pull back before slamming BTC and riding the next cycle.
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