Bitx is awakeningIt might be time let's see if the positive momentum from Bitcoin can stay up and if we can get above some previous highs -- The 2x bet should one day payout AMEX:BITX
BITX trade ideas
BTC Arb TradingA simple and pretty visualization of long and short leveraged ETFs and Bitcoin Index. Comments welcome on ways to interpret the data into executing winning trades. Cheers!
The BTC Critical ZoneBitcoin has been recently struggling after breaking through several crucial support zones.
There is a single make it / break it zone I will be watching on the related BITX ETF which results in the overall CC golden pocket from the low of the move to the high pivot.
A rejection here may increase probabilities of a further downside drop. A reclaim of the level would give me further confidence on a long trade higher.
Lets see how it plays out.
Buy the dip dont trip BITXI see a short squeze a brewing! This is what they wanted 10 year down 3%!!!!!!!
BITX - Double Your BTC Stack With the Bitcoin ETF's becoming a reality, there are many new crypto related assets such as BITX provide you exposure to 2x leverage to Bitcoin. This provides traders with opportunities to scale their position, without the risk of liquidation.
Ive been waiting for the market to retrace, and perhaps this drop on BTC touching GETTEX:59K , with big news ahead for tomorrow during the CPI release may be a recipe for serious volatility in markets. Moreover, the recent launch of the asia BTC related ETF's released in Hong Kong will provide millions of people with access to Bitcoin exposure.
My main thoughts for this trade will stem more from the technical analysis on Bitcoin which I will link in a separate idea. However, for me personally the weekly time frame trend is still upwards and I will remain bullish until Bitcoin fails and makes a new lower high pivot.
A long trade may be probable here as we approach some levels of liquidity between 58k and 59k. This may also be viewed as prices ranging $30-$32 on the BITX ETF.
Looking for buyers to regain control here and rotate back to test the previous high at $60. CVD and RSI showing me some divergence, however the RSI has not printed a confirmed bull signal just yet.
Only time will tell..
BITX - up from here?Based on the fibonaccis we should get a nice bounce back to the .5 fibonacci or the .786 fibonacci.
Not financial advice
Long $BITX sharesI don't think the CRYPTOCAP:BTC will stay below $70k for much longer, we have consolidated between 60k and 70k for 3 months.
I bought shares and will hold into 2025.
$BITX callI'm bullish on $BTC.
I just bought AMEX:BITX March 2025 $20 call for $24.
Will hold them into 2025.
Create an income producing Covered Call.If you like to trade volatility, then BITX is for you. BITX is a leveraged Bitcoin-linked ETF that aims to provide daily investment results that correspond to twice the daily performance of the S&P CME Bitcoin Futures Daily Roll Index With an IV30 of 136.90, (SPY is 14.78 as a comparison), you will find selling the option premiums advantageous. Consider this Covered Call idea using the price of BITX on April 22, 2024. Buy 100 shares of BITX @ $44.82, and at the same time, Sell to Open 1 Call, strike $45, price $2.19, expiring April 26, 2024. Your net cost of the trade is $4,263,00. If BITX is $45.00 or higher at the market close on April 26, your shares will be sold at $45.00 leaving you a profit of $237.00. This is a 5-day return of 5.29%, annualized at 275% (for comparison purposes). If BITX is below $45 you keep the shares and the $219,00 premium. The cost basis will be $42.63 per share. You can sell the shares anywhere above $42.63 for a profit, or you can sell another Call for additional income and possible net cost reduction.
BITX: The first SEC approved Bitcoin ETF is here.The first leveraged Bitcoin futures exchange-traded fund (ETF) has been approved by the U.S. Securities and Exchange Commission (SEC) as of last week. On Tuesday, June 27, Volatility Shares 2x Bitcoin Strategy ETF (BITX) is set to debut on the Chicago Board Options (CBOE) BZX Exchange.
In its SEC filing, BITX stated that it “seeks investment results that correspond to two times (2x) the return of the Chicago Mercantile Exchange (CME) Bitcoin Futures Daily Roll Index.”
