We've been waiting for a long time, and we are finally here. BTC is walking out the top of this wedge that has been forming over the past 3 years. I wouldn't be surprised to see a quick shakeout down to $6k but by the end of 2021 we are will touch the $18k-22k range. Position yourself accordingly.
Comment:
We have a price breakout above the trend line, but volume is decreasing and not nearly as strong as I expected. Weekly RSI is approaching 70 and volume falling. I am going 25% cash on this position. Next week if we still haven't broken 70 RSI and volume struggles I will increase to 50% cash and re-evaluate beyond that. I think it is probable to see a re-test of the trend line which would be about mid-$8k.