BTBT a crypto equity play in a Bull Flag
Updated
As seen on the 4H chart, BTBT is triggering a breakout from a High Tight Flag Pattern
( see the link below)
supported by the MACD crossing the zero line from below and the ADX indicator showing
the beginning of a bull trend abuve the green line at ADX 20.
Earnings are soon upcoming on March 29th and the prior earnings were decent
in the middle of " Crypto Winter" which is now rapidly thawing into the spring.
RIOT and MARA are breaking out BTBT is about to follow those leaders. A trader would
be "chasing" after the latter but taking a BTBT trade would be getting to the party
just on time. The call options table shows the 4/21 $1.00 strike at $40 premium
which rose 50% on Friday. I see this as an earnings play off the flag pattern
with great upside potential in the context of the resurgence of the cryptomarket
while banks with fiat currency have significant challenges ( or collapses depending
on what version of chaos you see,)
( see the link below)
supported by the MACD crossing the zero line from below and the ADX indicator showing
the beginning of a bull trend abuve the green line at ADX 20.
Earnings are soon upcoming on March 29th and the prior earnings were decent
in the middle of " Crypto Winter" which is now rapidly thawing into the spring.
RIOT and MARA are breaking out BTBT is about to follow those leaders. A trader would
be "chasing" after the latter but taking a BTBT trade would be getting to the party
just on time. The call options table shows the 4/21 $1.00 strike at $40 premium
which rose 50% on Friday. I see this as an earnings play off the flag pattern
with great upside potential in the context of the resurgence of the cryptomarket
while banks with fiat currency have significant challenges ( or collapses depending
on what version of chaos you see,)
Trade active
BTBT is looking good on the chart 20% in the past five sessions. Much more upside.Call options are nearing 100% ROI
Trade active
ca;;s are up 400% reflecting great uptrending price.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.