... for a 27.55 debit. Comments: Not the weakness I was looking for, but setting myself up to grab the early June dividend. Generally, I'll look to roll out the short call at 50% max ... .
Bitcoin continues to retreat from the historical highs reached in the March quarter of 2024, as discussed in many previous posts, minds and publications. In nowadays BTC is declining to new local lows as the macroeconomic situation in the global economy worsens and volatility (uncertainty) in the market as a whole increases. The technical picture indicates a...
CRYPTOCAP:BTC was weak after we called top. We turned bullish on #BTC right around the most recent lows. We sold ALL our #Bitcoin ETF's at the beginning of this week as it was getting closer to resistance and the RSI & $ Flow are weak. Weekly chart shows that the downtrend is still intact. We posted the last chart some time ago. Our analysis is looking more &...
#Bitcoin peaked "yesterday" morning. So far today it is holding the RED Mov Avg, arrow. We see 3 bullish moving avg crossovers shown by the circles. Volume has been mostly selling, but holding well. Interesting to say the least. CRYPTOCAP:BTC RSI is a tad weak, which is concerning.
... for a 1.13 credit. Comments: Adding a rung out in August at strikes better than what I currently have on, selling the 25 delta strike. Metrics: BPE/Break Even: 18.87 Max Profit: 1.13 ($113) ROC at Max: 5.99% 50% Max: .57 ($57) ROC at 50% Max: 3.00% Will generally look to take profit at 50% max/roll out at 21 DTE if it hasn't hit the TP by then.
... for an .81 credit. Comments: Adding a rung at the 22 strike, which is better than either my covered call break even or the July 19th 24 short put I've got on. Will generally look to take profit at 50% max, but am fine with taking on additional shares and selling call against.
Not one to brag but....... TO THE DAY!!!!!!! How long, how many months, have we been posting this chart with phase 1 and phase 2 of #BTC??? Well, first let's see where CRYPTOCAP:BTC closes today. But so far it is looking good at a close on the EXACT day of phase 2. FYI #bitcoin volume is pretty good and still a lot of time left untill the end of the day. #crypto
Just a hunch on $BTC. We bought ETF's on this last dip. IBKR only allows 10% crypto. May begin buying spot again as we sold close to top. First an explanation on a 4Hr #BTC chart broken down into 3 phases (Letters A - C) A The descending arrow shows $ Flow weakening. There were huge buys but sells were eating it up. That was a RED FLAG. We spoke about divergence...
We have been showing this for some time now, couple months or so. This scenario is looking more and more likely as the days pass on.
In less than one month it will be 6 months when CRYPTOCAP:BTC topped. Historically, this has been an important time frame for the asset. #Bitcoin is getting to the major support level faster than anticipated, yellow line. The time between big cyan colored arrows is IMPORTANT. #BTC close to oversold & TONS of $ has been taken out. Getting closer to a bottom.
CRYPTOCAP:BTC retested the all time high & then sold off, as expected. The 2nd phase is the more important one and it is right around the corner. In a previous post we mentioned 3 and 6 months from ATH was a pivot point. #BTC will likely keep selling off until it reaches major support & that area is a is do or die time, represented by cyan arrows. #Bitcoin...
... for a 1.44 credit. Comments: High IV at 59.6%. Looking to pick up shares at or below my covered call's current break even of 27.10. Metrics: Buying Power Effect/Break Even: 22.56 Max Profit: 1.44 ($144) ROC at Max: 6.38% ROC at 50% Max: 3.19%
Turned bullish on CRYPTOCAP:BTC during the beginning of May. Futures #BTC looks good but the volume is lacking a bit. RSI looks okay but not great. $ Flow is not that great either. Spot #Bitcoin = ditto. However, technically they look good, they are trading above their respective moving averages. What would seal the deal? HUGE volume breaking highs!...
... for a 26.12 debit. Comments: Re-upping after closing out my longer-dated covered call (which I had rolled all the way out to December). Selling the -30 delta call against long stock here. As before, will look to roll out the short call for duration at 50% max, collect the monthly dividend along the way ... . I'll also look at selling short put, assuming I...
... for a 27.54 debit. Comments: High IVR/IV at 97.9/81.9% and a monthly dividend to take advantage of. However, the monthly dividend has varied widely -- with the last two distributions paying .36 (February 8th) and .73 (March 8th) with an annual dividend of 8.72 (.73 average monthly) (31.7% annualized as a function of current price). I'm primarily looking to...
Tweaked the CRYPTOCAP:BTC chart. It really needed updating. Fixed the colors too! #BTC is 2 weeks away from the end of what we called, phase 1. In my opinion, it's going to move SOON. #Bitcoin breakdown: The moving avg crossover, yellow circle, is bullish. Cyan circles show bullish signs; RSI above 50 Money Flow is above 0 ------------------------- Bonus...
... for a 1.82 credit. Comments: Adding a short put on weakness here to my covered call, which I'm sticking in with to grab the monthly divvy. I'm okay with being assigned additional shares, since the break even of the June 24 is below the cost basis of what I currently have on. Otherwise, I'm perfectly fine with doing my usual take profit at 50% of...
CRYPTOCAP:BTC has been looking better as of late. The 1st phase we spoke about is almost done! #BTC shows a successful GREEN Moving Avg test, two weeks ago. Final #Bitcoin chart shows the reduced $ flow & the RSI not as strong as it was last time it was at these levels = Bull is not dead but it is not as strong as before. In no way does this mean that 100-110k...