Because the powers that be do. And it's the "LOVE "of money that's the root of all forms of evil. Not money itself. What people will do to get it. The "why" behind why they want it. This ETF news has me thinking. They need cheap coins to fill their bags. To distribute to the masses. A dip into approval of a spot ETF seems plausible. Somewhere in...
From here... The 2020 to 22 Head and shoulders hit the target at 15k. Wherein the price consolidated in a falling wedge. A 100% bounce into low 30k after the breakout has occurred with backtest... The target of the falling wedge in 49ish K... Now Inside a channel that lines up with the line of the head and shoulders break and upper resistance and target of...
No, I am not a Bitcoiner in the sense that I am just going to DCA and HODL indefinitely... But my negativity toward the asset that lit a fire under my butt to learn how to ChART and made me a multi-millionaire is over. Why? Because I just understand Bitcoins price action better than any other. I have said it before that Bitcoin adheres to TA better than any...
So it did get a bounce after all, lol. Indicators appear to be working, MI and RSI did not hit overbought yet, but BTC has rolled over at this level before so it might not hit the upper channel line. My guess is it gets a weekend pump on low volume then sells off again next week because PCE numbers were higher than expected. No rate cuts in the foreseen...
BITO seeing some massive dark pool activity and chart looks bullish IMO as it's currently building a falling wedge and resting near 100DMA which has provided support and resistance recently First target $17.70 , stop at a close below $14.80
Because there is no "SAVIOR" except for Jesus... It follows the traditional markets. (SAME EXACT MOVE) Yes, you have to use leveraged ETFs to beat its % gains... But they exist and have better Volume, & BID/ASK spreads. ZERO COMMISSIONS! And a traditional exchange isn't going bankrupt every day... Crypto is dead to me...
Quick snap up to 33k and Wednesday FOMC selloff... 9.5k is now actually where I think the bleeding stops before 5 more years of sideways ranging between here (30k) and there (10K)... Possible new highs in the 2030's... Time will tell the tale. My opinions of why and how I am coming up with this number and range based on dates inside this OBVIOUS descending...
BITO on resistance line too. Will be BTC can stay and higher than $30k ? MIL:BTC #btcshort
BITO 390m: Breakout from structure held since June 2022 and move over value area high. Auction has now moved over key MAs. Aggressive movements & high vol in the crypto sector has produced risk on sentiment and a two day upside of +30%; diverging from recent equity sentiment. Continued price action and breadth in this space could see BITO continue its current move...
Looks like Fink missed it. But I really haven't been ChARTing Bitcoin at all. And last night was sitting on the couch while the family was watching their show. And I saw the local price action. This is the most probable path for 2024 and makes PERFECT sense! I bet Max Kieser, Micheal Saylor, and Tim Draper exit at 30k... I am getting compelled to start...
Still as expected. NASDAQ:MSTR is a bit of a leveraged play... $BITO (so far) is still working out as the most pure spot play... and $GBTC yeah... there's Grayscale always in the news with the 40-50% sale. LOL Can you stomach the potential risk/reward of GBTC? Are we still using it as an informal technical indicator for coin movement? In my opinion, BITO is...
BITO 15.40 and 13.20 When rising to the selling resistance line position, there is a possibility of further collapse due to the absence of the lower support line
Fed meeting next week, rut ruh... Bought a few OTM BITO puts for next week, just a small play
Freakin' hilarious, BTC has been the best indicator of market top and bottom this week. Flipped puts yesterday at support and bought GM calls, flipped my calls on open and bought BITO puts at the resistance. I have no idea if it breaks support or cycles back up next week, but holding those BITO puts for kicks and giggles. I plan to flip my puts Tuesday if it...
Last couple of days I used BTC as an indicator to buy or sell as it hit support and resistance. This NQ overlay on top of BTC makes me wonder if it is now tracking the market, with a tendency to overshoot the selloffs. Still trying to figure out BTC, I made money because of it this week, so I'll keep an eye on it. I have to anyways because I left open some BITO...
... for a 6.00 debit. Comments: Collected a total of 5.01 for this. (See Post Below). Closing it out here as less of a loser (.99/$99) than it was previously.
... for a .63 credit. Comments: Rolling out with 28 days to go, but adjusting strikes slightly to delta neutral, since there wasn't a ton of difference in credit between rolling out "as is" versus delta balancing. Total credits collected of 5.01 on a 5 wide inverted. The setup is currently marking at 6.46 relative to my cost basis of 5.01, so it's underwater...
... for a .79 credit. Comments: Not much I can do with this here besides roll out as is, reduce cost basis further. Total credits collected of 4.38 on a five-wide inverted.