Bitcoin (BTC) Bitcoin reached as high as $43,000 about a week ago, then fell just below $29,000 over the past few days. It is the kind of volatility that ironically is good as shakes out the weak hands while providing trading entry points in advance of runs to new highs. Still bullish, looking for $50K in the next few months, $100K is possible by year end. This is not a sure thing, as TSLA was in 2020, but even as a 50-50 bet, it's worth the risk. There is upside above $100K. Bitcoin (BTC) above $34,000 is an Intermediate Term Buy Signal, as is GBTC above $37.50 and MSTR above $570 (it closed Friday at $575). PLTR For new subscribers Palantir is our "2021 Stock of The Year" (The Right Place At The Right Time). Along with the shares we recommended the August 20, 2021 $40C. In that linked Update we posted a chart with Fibonacci extension price targets. I've updated those targets in the chart below. At the time PLTR was at $25.97. It closed Friday at $32.58, closing in on the first target, $36-37, which may act some temporary resistance before price breaks through toward the upper targets, $45-46, then $60-62. The August $40 calls were bought at $4.40 in December, closing Friday at $7.35. Both PLTR calls and shares remain a Strong Buy. TSLA Lest we forget about our main squeeze, below is a link to an excellent 8-minute video chronicling the rise of the automobile industry in America from the late 1890's to the early and mid 1900's and the parallels to today's budding electric vehicle industry. No big surprise as to which company is left standing. Cathie Wood Warns Of An Upcoming EV Stock Crash (Bankruptcies Coming Soon) The Big Picture I haven't a clue. Market sentiment is at levels only seen at major market tops, yet the market continues rising week after week. Any serious decline from here should unfold in layers, deep dives followed by swift retracements that reverse on a dime followed by new lows, a running price structure that is perfect for our kind of pattern recognition signals. We need that first deep dive to start things off. If the market wants to continue upwards, we have TSLA, PLTR, MSTR, JMIA, and GBTC to keep us busy, along with other special situations that arise on a weekly basis. It's going to be a good year for us (trading-wise), I'm glad you are along for the ride. A
