BTC Oscillator
Updated
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 doesn;t break support over the weekend, at this point I figure the worst that can happen is that I lose today's profits. I don't see BTC breaking through resistance over the weekend though I suppose anything is possible.
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 doesn;t break support over the weekend, at this point I figure the worst that can happen is that I lose today's profits. I don't see BTC breaking through resistance over the weekend though I suppose anything is possible.
Comment
Just want to point out that if you nailed the bottom Thu and sold at resistance on Friday you would have netted 4% on BTC or 100% on BITO options.I made 200% profit on GM calls, and I didn't even time it perfectly.
Stocks are a better play right now than cryptos, at least on the long side.
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