BitOoda_LLC

BitOoda_LLC

In our BTC vs SLV analog piece we identified remarkable similarities within the charts. Trying to figure out the time frame of the consolidation area is key. In SLV, the timing of that consolidation period was over 3 months, however, the 500% rally also took 2.5 years. In BTC, the 500% rally only took ~9 months. With this scaling in mind, the consolidation...

BitOoda_LLC

Good morning. Here at BitOoda, we have been BEARISH of BTC and remain of that opinion. $3,600 has been, what we feel, as the key ‘magnet’ level between the range of $3,200 and $4,000. There is a battle between the bulls and bears at this price, and we feel the BEARS could likely prevail. We will consider changing our view if and when there is CAPITULATION in...

BitOoda_LLC

Finally, we have been watching the ETH/BTC spread closely, and witness a price run up from .035 to just above .04 over the last few weeks. Fundamentally, we have expressed our view on this spread almost a month ago: After this weekends price action, this could be a decent entry point start accumulating a position

BitOoda_LLC

A week ago (1/3/19), I wrote a piece on RISK MANAGEMENT recommending purchasing a March Fence (aka a collar) for firms that are long ETH in their inventory. The trade was to buy the H $100 puts and sell the H $250 calls against it. When we sent out this report last week, the market for the fence was -8/8 (worth flat premium). Today, the market 0/16 (worth $8 -...

BitOoda_LLC

As we’ve been having conversations with all kinds of players within the cryptosphere, we’ve noticed Index Fund managers as well Miners who are long-only are looking for additional sources of income. This piece will be to educate them in a potential CALL WRITING strategy that can satisfy their need for additional income. When entering a CALL WRITING program, one...

BitOoda_LLC

1/7/2019 Today, we revisit the chart from the morning report of Tuesday last week. We wrote that in the BTC market we are starting to see SUPPORT in a BEARISH market. Over the weekend, we watched this upward slopping SUPPORT line converge and penetrate through a short-term RESISTANCE level of $3,900, and gap $150 higher. We have been of the mindset to SELL...

BitOoda_LLC

Today I would like to focus on RISK MANAGEMENT. This is less of a “trade”, and more of a preservation of capital derivatives structure. It allows firms that are holding coin to minimize their downside risk, while potentially giving away some upside reward. With this recent run up in ETH, we believe it is prudent for commercial players to manage their risk for as...

BitOoda_LLC Updated 

Good morning and Happy New Year to all!!! We wish you all a successful and prosperous 2019. This morning we will start with the Bitcoin chart. We have updated what we are seeing as trendlines attempting to form SUPPORT in this BEARISH market. We saw a nice rally 2 weeks ago that eventually failed, however we think there could be a similar rally in the near...

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PART 2 of BitOoda Morning Report 1/2/2019: The second chart of the day we will look at is ETH/BTC spread. Let us revisit our BitOoda Morning Report from 12/17/18: “Ethereum was in a bear market with other crypto-assets, it is in a more mature stage than Bitcoin. That made us look at a relative value trade of ETH/BTC pair. Coincidentally, the ratio made a 0.026...

BitOoda_LLC

In BULL markets resistance levels turns into support, and in BEAR markets support levels turns into resistance. Earlier last week in my BTC vs. SHORT commentary on 12/18 I had displayed on the chart that $3,600 had turned from support to resistance. We had been pounding the table all month saying $3,600 was a key level. What we saw was large buying volume on...

BitOoda_LLC

12/26/18 Good morning! I hope everyone has been enjoying their Holidays! For us here at BitOoda, we take pride in the fact that we are always available to answer the call of clients, discuss trading strategies with market participants, and be of service to those who read our work 24/7, because as you know, this market never sleeps. We would like to follow up with...

BitOoda_LLC

12/19/18 The short squeeze is on. The bulls have taken back the market, and are punishing the shorts that have been initiated over the last 2 weeks. Stops from leveraged accounts are being taken out! Today we are studying the ‘Fibonacci Retracement’ levels. We are picking the high from the large decline that started in mid-November ~$6,000 until the lows of...

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On Friday last week (12/14) we put together a piece referencing the relationship between BTC price, and Net Shorts. Our conclusion was that when net shorts covered their BTC, they didn’t markedly cause a rally in the Spot price, which to us means that the weak length left in this market was overpowering any bid these shorts put into the market. Based off of...

BitOoda_LLC

On Friday last week (12/14) we put together a piece referencing the relationship between BTC price, and Net Shorts. Our conclusion was that when net shorts covered their BTC, they didn’t markedly cause a rally in the Spot price, which to us means that the weak length left in this market was overpowering any bid these shorts put into the market. Based off of...

BitOoda_LLC

(12/14) We finally broke the short-term support level of $3,300 yesterday afternoon and saw it bottom out at ~$3,200 later around 7PM EST. There has yet to be a compelling reason to want to get long in this ugly, bearish market. Usually, in an over-sold or over-extended market, you would see shorts covering to take profits, which would help create some support...