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BITO trade ideas

BITO short corrective rise begins.BITO short corrective rise begins. Target price : 41.84 usd. After that I expect a significant reversal. Let's start from the beginning. The orange lines mark ATR axes. More precisely, the starting points of the ATR axes, the places where the ATR values are zero. In technical terms, we can talk about accumulation if the distance between the initial value of the ATR and the extreme value of the local price is equal in the long direction and in the short direction. In these ranges, the number of sellers and buyers are the same, hence the accumulation. This is also the case here. More precisely, the price movement of the BITO immediately turned into an accumulation movement. The yellow squares, which are equal in both directions, represent the accumulation area. I now expect a short resistance level to form from the lower accumulation level(formed by the short position builders) and an upward correction movement to develop. Up to the 50% level of the short direction accumulation area. In the present case to the level of 41.84 usd. I expect a short rise. Then a profit realization could occur and technically the decline could continue.
AMEX:BITOLong
by meszaros
6
CRYPTO ETF - THE ESCAPE ROUTE FOR PROFIT??AMEX:BITO I'm not a fundamentally based trader, however, there are times where a theoretical story seems likely to supplement the technical analysis side of the (bit)coin. Technically: Most IPOs are pretty obvious as to what is support and resistance are after a few days of trading. Therefore, mapping out potential levels in the future become easier - especially if happens to align with large round numbers. The areas shaded are in my opinion the ONLY places I would pay attention to. Fundamentally: Bitcoin is at HI's again, and crypto is prevalent in the news with the launch of its first ETF (paving way for others). If anyone is looking to get out of bitcoin near its all-time HI, double top, then we need buyers. These ETFs are providing the liquidity for the sellers aka the escape artists to profit from the buyers and new players into the crypto world. We may see absorption of this buying (temporarily?) before we see bitcoin, crypto, and BITO ETF suffer some. Small moves in the grand scheme of things where you can still profit. Just an idea....
AMEX:BITOShort
by ProSTrades
"Wall Street Bitcoin" Lovely baby chart on the 15minWell, as someone who is extremely critical of toxic Wall Street Instruments. I am impressed with this "futures" BS "Bitcoin-link" instrument of mass destruction. Fortunately, Bitcoin, unlike manipulated gold and silver commodity markets, is a world-wide, distributed and battle hard spaceship. Gifted to us by the gods not though gold but though MATH AND TRUTH! And the charts over today's first trading day on crook street (banksters hours) shows a lovely 15 min period chart ending with a warm bullish engulfing candle. Warms my heart. Enjoy the ride people. Trust yourself first. And verify the rest! Notes: First date trading: $40.88 OPEN 24.284M VOLUME BITO is NOT an investment because it's decays with futures contract roll overs. Great swing trade position. As we break 65K, BLUE SKY BREAKOUTS to .... (TBC)
AMEX:BITOLong
by UnknownUnicorn2413721