We have a breakout of the daily down trend that was established in Oct. 2025.
We have now broken out of said trend line while forming a dbl bottom “W” reversal formation.
Currently IBIT is showing that it is above the neckline of that dbl bottom. (BTC hasn’t quite broken it yet)
Idea here are 5/29 exp $46 calls. Entry can be now; or, a successful retest of the neckline by either a daily or 4H green candle.
TP1 - $46 area of first gap
TP2 - $50 area of second gap
TP3 - $52-54 area of third gap
We have now broken out of said trend line while forming a dbl bottom “W” reversal formation.
Currently IBIT is showing that it is above the neckline of that dbl bottom. (BTC hasn’t quite broken it yet)
Idea here are 5/29 exp $46 calls. Entry can be now; or, a successful retest of the neckline by either a daily or 4H green candle.
TP1 - $46 area of first gap
TP2 - $50 area of second gap
TP3 - $52-54 area of third gap
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.