BITO trade ideas
$BITO ETF for Bitcoin with Monthly DividendsIf you're planning to invest for the long term and want to bet on Bitcoin's growth while expecting a decline in the value of the US dollar, you might want to consider an Exchange-Traded Fund (ETF) called $BITO. This ETF can be a good option.
What's interesting about this investment is that it offers a dividend yield of 14.49%, and this dividend is paid out every month. If you're considering entering the market, a good entry point could be around $22.52 per share. To manage your risk, it's advisable to set a stop-loss order at $21.84, ensuring you have some protection in case the investment doesn't go as planned.
It's suggested to remain optimistic about the investment as long as the price stays above the balance line of $21.82 at this moment.
$BITO Ready to Run?AMEX:BITO Kathy Woods AMEX:ARKW fund sold OTC:GBTC and bought $92mm AMEX:BITO yesterday. They also sold $COIN. There is the news. I am more of a technical trader, and I like the set-up on BITO here. I have started a one third size position in the anticipation of a break above the small consolidation area or pennant. My stop is tight, just below today’s low of day.
I like the fact that it is trading above the IPO AVWAP which means that by volume most shareholders are in the money. That means there is little overhead resistance at this point. It is also trading above all the moving averages.
Ideas, not investing / trading advice. Comments always welcome. Thanks for looking.
BITO, BTC & I'm Not SureBitcoin has had a meteoric rise since its creation
For the first time we will see how investors approach the coin in a truly deflationary bear market
But for now the coin and subsequently BITO are in the beginnings of a bull market rally
The questions are will they be a victim of the mania that drove the "everything bubble"
OR
Will investors see them as a "safe haven" in truly turbulent times...
We will find out together!
Bearish Island Gap Reversal" BITO 1/12/24With the extreme demand and hoopla
for the introduction of a bitcoin ETF
becoming a reality with SEC approval on Jan.11,2024
Pro Shares ETF BITO price action shows" why"
they only bring these things out at the top.
Fascinating.
The chart shows a rare " Triple Island Reversal"with
1 Price breaking out bullishly at the opening,
2.Only then to break back into the prior pattern,
and then completing the horror for by
3 Reversing, below island support, completing the total
breakdown of patterns bullish structure back to the base,
and then breaking below that support... to a new low.
From a price high of 30, to below 25, in just the two sessions
you had the 30 min KST Indicator confirming every step of the wa
Bullish traders who plowed millions and millions into this ETF,
saw it crash 20 % from the high at 30 on Jan11, and continuing down to 25 on Jan 12
Simply put, the crowd of traders demanding trading for a Bitcoin ETF,
lost badly,.. immediately after they stated trading them.
Just goes to show you, they only put these things out at the top !
You should keep your eyes out,
because these Bitcoin EFT's are going to move dramatically up and down every day,
gap up,moves gap down moves will be the norm.
Welcome to the new world of crypto trading
where just 2 days these bitcoin ETF trading proved
they are not for widows and orphans.
But certainly for those traders who want and need sharp price movement.
BITO and others like it will give you all the opportunity
to trade bitcoin with massive volume every day.
Doesn't get any better than that...? .BITO Last 21.06
How to make money trading Bitcoin etf BITO is a bitco etf almost mirroring bitcoin price.
BITO also offering 15% annual dividend return which pay out monthly.
Currently BlackRock is trying to get their own bitcoin spot etf approve
and news of possible approval made bitcoin price spike with excitement.
Trade strategy: Cash secured Put
Selling 4 contract of Nov 4 strike price 17.5 @ $1.35 (this is the price I sold for my position, the math in the video is missing some numbers)
My overall compensation for selling 4 contract is $538.
Total cost per share is $16.15 accounting for premium collected.
My plan is to either sell my shares for a profit if my put get assign when the option is expire in the money or I can also keep selling cover call to lower my cost.
Will keep you guys updated.
ETF's in the cryptocurrency sector vs Bitcoin📉This graph shows the average price of the main ETF's in the cryptocurrency sector, and their correlation with Bitcoin.
🟢These are the ETF's aggregated here:
PROSHARES BITCOIN STRATEGY ETF
GRAYSCALE BITCOIN TRUST (BTC)
GRAYSCALE ETHEREUM TRUST (ETH)
AMPLIFY TRANSFORMATIONAL DATA SHARING ETF (BLOK)
BITWISE 10 CRYPTO INDEX FUND (BITW)
GLOBAL X BLOCKCHAIN ETF (BKCH)
GRAYSCALE LITECOIN TRUST (LTCN)
VANECK UCITS ETFS PLC CRYPTO AND BLOCKCHAIN INNOVATORS UCITS (DAPP)
BITWISE CRYPTO INDUSTRY INNOVATORS ETF (BITQ)
GRAYSCALE DIGITAL LARGE CAP FUND LLC (GDLC)
I would love to, but I don't think the price is going to go straight up to the moon🚀👎❌.
The banks will make it as difficult as possible (can you imagine if everyone got rich quick and easy without having to be a slave?), and they will manipulate the market to enter at the lowest possible price.
Funny, that they insisted and spread FUD one after another, that Binance should prove that it owns the customers' balance.
They tried to knock her down with this narrative, but they couldn't.
But what about banks, do they do that?
Could it be that if everyone shows up at bank doors asking to withdraw their paper money, won't the army show up with a bunch of war tanks to protect half a dozen tycoons?
I'm looking forward to the next narrative.
BITO bittom?Through the zero slope MA of lows. Maybe we get a full pivot through the zero slope MA of medians this coming week.
BITOWas that the bottom? Through the zero slope MA of lows. Let’s see! Maybe more with tomorrow’s numbers.
BITOBITO is under the 2 day zero slope MA of lows. I like this as a buying level especially if one has reasons to buy it anyway. If it breaks up thru it that would be additional incentive for me to buy calls and or sell put spreads. A give up might be just under the recent lows.
Bitcoin Miner Moon Race - BMMR - CORZQ Leads the way!
The great power of the Bitcoin ecosystem, where is the hash rate coming from? Miners.
And most of these miners have bases in Americas only.
Most of the Eurasia / South America / Central America (El Salvador Volcano) are not publicly traded yet or direct government related but I suspect this trend is occurring globally.
Forget the Moon race, its the Hash Race.
All of this too when we are in early stages of a bull market. Don't hear a peep of Bitcoin miners or the ecosystem on Bloomberg either? BlackRock radio silence. . . but the waves are public.
BITO - is this the BITTOM?Lots of oversold metrics here. Let’s see what kind of rally off these levels we get if any.
BITI or BITO now?
BITO
It just past the dividend ex-day sell-off and I'm watching it now .
I might jump in if it can complete consolidation soon.
BITI also need to be consolidated, but let's see which one come first.
BITO - the next wave up about to begin?Well it didn't quite trigger my buy signal but definitely in my value zone. With the debt ceiling drama done til....next year? are we back to risk on? SPY BITO what else? Possible a real cratering in bonds and gold. We will see.
Surfing BTC: BITO - Why dividends from BITO are a SILENT KILLER
TLDR: We are currently losing 10% per year to withholding taxes for "dividends" from BITO, which are not profits from futures rollover.
-
If you were like me, holding BITO and gotten dividends since 1 Feb 2023, and every month after that (today is 1 June), you might have been pleasantly surprised with the dividends. You may have thought that it was backwardation and pure profits.
Sad to say, nothing is further from the truth. Not only do you NOT have profits, your dividends are TAXED. Let me explain:
1. Assume we hold 1 BITO
2. For Feb, Mar, Apr, May, June, we have a total of $1.56 of dividends
3. We have paid withholding taxes of 30% (in my jurisdiction)
4. The total dividends amount to about 10% of BITO price (averaging about $15.50 between Feb and Jun)
Now look at the chart of BITO/BTCUSD -
1. BITO has effectively fallen 10% from the BTCUSD peg
What this means:
1. There was ZERO real profits from futures rollover
2. There was "profit" from rollover, but the BTC peg was unhinged by the same amount
3. Dividends were distributed, and if they could be manually compounded, it would be OK
4. But THEY ARE TAXED!
Result:
1. The holdings of BITO are not 1:1 with BTC
2. They have LOST 3% over the past 3 (mainly Apr, May, Jun) dividend distributions
3. At this rate, we lose 10% a year to Taxes
BITO, FXE, GLD, TLTThe markets BITO, FXE, GLD, TLT are all under extreme downleg compressions. A resolution or resolution failure could cause an extreme reaction in any or all of these markets. If there is a marked retracement in any of these markets an out of the money call position could offer an exceptional opportunity even if only one of these markets complies, IMHO.
$BITO Falling wedge long ideaBITO 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 OutlookPossible top soon so will remain neutral. Expect it to go up a little more but a possible short-term correction
BITO ProShares Bitcoin Strategy ETFBITO on resistance line too.
Will be BTC can stay and higher than $30k ?
MIL:BTC #btcshort
Going upIt might just last 12 hours or 3 days, but it looks like it's going up from here. Gold is the canary in the coalmine, and silver jumped 4% and hasn't seen a sell off. I think a large green candle on the 1 hr chart will present itself shortly. Why would people buy BTC when interest rates need to climb? Because that would make the bank deposits invested in negative yield bonds worthless. The only way to handle it is to let other currencies absorb the value of money and paper over the debts.
BITO: Risk on rideBITO 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 to price rediscovery of May 2022 levels into the 18.14, 22.48 vPOCs; contingent of exhaustion absence//Will monitor how derivatives position post market favored CPI reports this am and into EOM OpEX, compression of volatility, and Fed speak// RVOL 3.56, IV: 87.40%, Fast Beta: 0.77, Notable that ATR: 0.67// Bias: Acute long// Price at time of publish: 15.95
