Frankly speaking, Coinbase is a stock you actually want to keep a careful eye on, because as the US/International regimes fully integrate digital currency, Coinbase is quite likely to be a key organ of the network. But for now, this thing is worth $14 billion still and at a time that the crypto market is doing really poorly, Binance and Tether are ticking...
The current generation of digital currencies are something I really implore you to lose all faith in. At this point in history, they are old, and have been corrupted by various factors using the "Embrace, Extend, Extinguish" technique. In the short term future, the existing cryptos will be significantly marked down as a result of Central Bank Digital Currencies,...
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
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...
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.
... for a 1.13 credit. Comments: Inverting my short strangle further ... . Total credits collected of 3.59 on a 5 wide inverted (12C/17P).
... for an .89 credit. Comments: Just rolling "as is" here about half way through the cycle to reduce cost basis further. Total credits collected of 2.46 on a 1-wide inverted (i.e., I can invert a smidge further to a two-wide if I don't get a bounce).
... for a .64 credit. Comments: The slippage sub-18 was somewhat rapid, so I'm probably got in here a little late to defend my July 15th 17 short put, but something is better than nothing. Total credits collected of 1.57 on a one-wide inverted.
... for a .45 credit. Comments: Too many trades, not enough time ... . Rolled this out on Friday for a .45 credit. Total credits collected: .48 (See Post Below) plus the .45 here for a total of .93. The original setup was a spread with the long leg at the 11. It has gone no bid, so I'm leaving it behind as a lotto trade.