Bitcoin
Written by
Knox Ridley
Technical Portfolio Manager
Published: June 23, 2021
Last Updated: June 23, 2021
On March 2nd we provided a detailed webinar regarding the state of Bitcoin. We outlined that we could see one more push for Bitcoin into the $64,000 - $107,000 region before we see a major top form.
As the uptrend continued through April and May, Bitcoin topped at $64,895, which was the lower end of our listed range. Because of this, we began a selling campaign, where we took heavy gains by cutting our position in half.
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We began buying Bitcoin at $7,717 in 2020, and continued to buy up through the $19,666 breakout. We have re-allocated our cash gains from Bitcoin into beaten down tech stocks. We have also begun buying back into Bitcoin in small increments.
View Bitcoin Update video here:
About the author
Knox Ridley is the Technical Portfolio Manager at I/O Fund, where he leads technical analysis and risk management. He started his career in 2007 as a licensed ETF consultant and has worked with hundreds of financial advisors and large institutions. Knox is trained in Fibonacci trading, Elliott Wave Theory, and Gann Cycles.
Email: knox@io-fund.com
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