This looks like the most interesting long setup in crypto mining should the opportunity present itself.
In the short term, I think price will likely continue up into the $1400-1500 range. If price can't break through that level, I think it'll be a great short.
If you look at the correction so far, we've only had 2 legs down, I think the 3rd is yet to come which will bring us into the sub $1000 support zone.
If we get down there, I think that'll create a great buying opportunity and price should surge higher into the $3000+ resistance level.
So if you buy the bottom and sell towards the top, there's 3x gains to be had.
I'll likely play this in both spot and options as there will be great money to be made if you can time this well.
Good luck.
In the short term, I think price will likely continue up into the $1400-1500 range. If price can't break through that level, I think it'll be a great short.
If you look at the correction so far, we've only had 2 legs down, I think the 3rd is yet to come which will bring us into the sub $1000 support zone.
If we get down there, I think that'll create a great buying opportunity and price should surge higher into the $3000+ resistance level.
So if you buy the bottom and sell towards the top, there's 3x gains to be had.
I'll likely play this in both spot and options as there will be great money to be made if you can time this well.
Good luck.
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Looking like we're not going to get up to the mid-range. Might just head straight down.
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Welp, looks like a negative reaction to earnings. Let's see if we get to the target.
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First target hit
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Now we should trend to the midpoint, then reject to the lower support.
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Bought at $1365C for 5/10 w/ anticipation of price hitting that middle resistance level prior to Friday. Then I think we'll have a large reversal into the bottom support next week.
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Relooking at the charts, there's a good probability that this doesn't play out and that we just get the reversal here.
Will bid the bottom support if that happens.
Will bid the bottom support if that happens.
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Sold my calls at open this morning. Market is about to roll over.
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Now that we've tagged the mid point, going to take 5/31 MSTR $1000P at market open.
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Good place to add to shorts, now at the upper midpoint resistance. Pivot next week. Think that's likely the window of weakness. Puts are cheap here because most people don't even think down is a possibility.
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Still think the short is coming... but think we go a little bit higher first. Up to $1830 or so tomorrow, I'm going to add a lot of $1100 or $1150P for same expiration
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Sorry I didn't update this. Timing was off and didn't hit that $1830 level yet, so haven't taken the put position yet.
There's a pivot tomorrow which I think will likely be a new high. Hopefully up in that $1830 level.
I'm thinking of adding a position for $1200P 6/14 if we get up there.
There's a pivot tomorrow which I think will likely be a new high. Hopefully up in that $1830 level.
I'm thinking of adding a position for $1200P 6/14 if we get up there.
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Not sure if we even get up to $1830, might just roll over here.
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Welp looking like we will end up hitting that level. Price is breaking out of a LTF inverse head and shoulders which the target is $1830. Should happen today or tomorrow
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Ended up being a failed breakout. Not sure which direction we head now, but lean down.
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It is possible that the market bounces here or chops here, or we finally see that $1830 target and then we fall on Wednesday. Was initially thinking Wednesday might be the low. If that outcomes happens, then we should bottom before the 17th.
Enjoy the weekend.
Enjoy the weekend.
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Looks like the market finally turned lower. I have a couple of $1200P for 6/14, let's see if we get a sustained move.
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Think it's likely that price goes higher tomorrow and down next week
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Price right back into resistance and rejecting so far. We'd need to see price over $1630-1640 or so and see a retest of that level as support for continuation higher.
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I could actually see this being the bottom right here.
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Based on how crypto is trading, I doubt this... let's see what happens tomorrow.