Bitcoin & GBTC Hit Targets

Well, they won’t help me retire rich * as promised by the clown in the post’s featured image, but today Bitcoin (BTC/USD) is hitting the target that we have been operating to in NFTRH for the majority of 2020. First there was the pattern breakout, the retest, the buy (GBTC, per an NFTRH+ update) and today, the target.

This weekly chart, along with a daily version has appeared every week for most of 2020 in the Currencies segment. The target was established months ago.

bitcoin

Since GBTC was my ‘stock’ vehicle, it has been updated each week in the Stocks of Interest segment. Boink, target registered. For each of these items there are higher objectives, but speaking personally I have got to now evaluate whether to take a well earned 85% profit.

The pro of selling is that Bitcoin hype is almost deafening on Twitter (and I assume, elsewhere). The con to selling is that it’s in a taxable account. Hmmm… what to do? Beuller? Anyone?

gbtc

* For better or worse I just do not pile drive any single investment/trade idea because I am a habitual risk manager, not a gambler.

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