BTBT/N trade ideas
Sharp Falling Wedge for the bitcoin minerHuge upside potential to $50 possible if we can break out to the upside from this Falling wedge!
The most underrated Bitcoin mining companyVery strong revenue numbers
Name change
Bitcoin going higher
Catch up to Riot and Mara
Send it
Could range for awhileMACD 1D appears elevated and near it's cycle top
May see a retest on RED support trend line. While consolidating in triangle before a break out occurs.
Low volume in BTBT currently
BtbtComing up on our target. 17.33 area is also big resiatnce if it can push up that far. Option call playing out nicely. Will be closing very soon up 25% since last post
BtbtLooks like it’s trying to breakout. Strong resiatnce at100 EMA on 1hr. Target 16.93 stoploss 14.90
Double Bottom at PCZ of Bullish Gartley with Bullish DivergenceI would buy some here and then buy more if we can pullback to the .786 again with stops below the 200 Day EMA
Bit Digital earnings tomorrow 3/18 morningBit Digital earnings tomorrow 3/18 morning
PH/S
Hash Rate
2,253.5
Miners
40,865
Bitcoin Mined
1,934.89
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7pt Trading compass:
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Newsworthy current events
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+5% portfolio trades, risk management
Beware of analysts motives
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FOMO : bad timing
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BTBTSome serious upside volume coming into Bit Digital Inc (NASDAQ:BTBT) over the last few days. Looks like it is getting ready for a big breakout soon. A high volume move through the 18.86 price level would be buyable. Stay tuned.
$BTBT $DMGGF log chart buysThe log chart is the key to making sense of the bitcoin miners, both stocks are rebounding from their lower trendlines: on 3.5.21 DMGFF put in a massive hammer candle to close back above the trendline, while BTBT held the trendline almost exactly. I think both easily double in price from here.
***I own both DMGGF and BTBT stock***
Cautious - But high volatility guaranteedWith ongoing fraud accusation, lawyers claiming to do the investigation and company response with providing more information, this can go anywhere. However, unusual option activity observed yesterday as someone bought 1281 calls for the strike of 40 expiring Feb 19.
This can be high risk and high reward play. Doesn't hurt if you keep small position size.
After 11721% gain in less than 1 year what could happen?Classic double top is obvious in the chart!
Potential price drop:48%
Reward/Risk:2.92
Timeframe:3-6 months
I always try to present the charts in a simple comprehensive format to prevent any confusion.
This is just my technical view, neither a fundamental comment,nor a recommendation to trade..!
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BTBT (bit-digital), the forgotten bitcoin miner to 45?Of the three big public bitcoin mining companies (excluding CAN), you'd expect all three (RIOT, MARA, and BTBT) to look the same. But they don't. RIOT, which has a 100m shelf offering has been the biggest gainer. MARA meanwhile is forming a bit of a bearish wedge on it's ascent, and then we have bit digital, BTBT. This is showing a nice rounded bottom with clear resistance around 30. At 2.2 exahash (per their website front page), this is more than twice the hashing power of RIOT. MARA claims to have funding and orders for 100k machines, putting it at over 10 exahash! So, why is it that BTBT is lagging behind?
I can't say, but the chart shows a very nice rounded bottom pattern. Breaking the congestion around the 30 level could open this up to 45-50 (low of the rounded bottom at 15; top at 30).
BTBT decent R:RI see decent risk to reward potential here. If we see buying volume moving in quickly we could see BTBT short sellers get squeezed. we have hidden bullish divergence on the indicators (Higher high on price but lower high on the oscillators) that help support more upside potential. Other crypto mining stock have been booming today with BTBT lagging behind. BTBT could bee resting here for another push up. If the other hot mining stocks cool down I think investors could poor into BTBT over the next days/weeks.
I will be trading with a tight stop here. Over recent weeks this stock has had some negative FUD and has been highly volatile.
Trade responsibly.
As always, remember risk management is the key to trading. We most preserve our capital!
