OSTK
$OSTK TRADE IDEA (4/12-4/19)Trade Idea Video breakdown for $OSTK. Filled at 69.70 but we could see some solid continuation if we can break this daily resistance. $AAPL had this same pattern before Its breakout, so will be watching this one and I have a my alerts set.
Luna accumulation phaseLuna is currently in an accumulation phase before the next leg up! The next target is $25 when markets stay good.
Fundamentals are better than ever.
SPRT next crypto miner leader
Interesting play and even on existing business model CEO has a history of building companies. Didn't see this one coming but even with today's move we believe this is far from over. Have fun and enjoy the ride! Fundamentally should be multiples folds higher based on the competitive metrics and although it moved today once people do some work on this are realize what they got it should start to get real attention vs the day traders. $btc bitcoin miner
Bullish Flag for OSTK?OSTK appears to be consolidating into a giant bullish flag drawn in blue.
On the KST there was a bearish cross where I've placed the red upward-pointing finger. I have placed a blue question mark to represent where a bullish cross is potentially going to occur near term.
It's always possible this pattern plays out bearishly as a descending triangle, and if that happens the horizontal baseline of support will be broken to the downside; expect the red lines below to act as support areas in the event of a fake-out.
JP Morgan has filed an application with the SEC to issue notes for a new investment product.
The new basket dubbed “J. P Morgan Cryptocurrency Exposure Basket” will track the equity of publicly-traded U.S companies that are either “directly or indirectly” invested in Bitcoin and cryptocurrency-related efforts.
Overstock is one of the companies on JP Morgan's list.
$OSTK - Rocket TA BUY ALERT! Temporary failure to launch. Landing pad approaching on either of the lines below, today marks a great entry if you're not aboard. I like a large opening position here at the 66-70 range. Save dry powder for a potential 58 blip or below to lower triangle and/or 200-smma. Lock and load!
$OSTK - Overstonk Rocket TAShort term power failure on E beat because your bags are too heavy. Upgraded to bigger rocket.
💎🤲 = 🚀🌙
Textbook cup and handleThe past week was rough for OSTK longs - but zoom out and take a look at the macro trends.
The interested parties.."I generally ask and receive calls on a block of stock. I insist upon graduated calls as the fairest to all concerned. The price of the call begins at a little below the prevailing market price and goes up; say, for example, that I get calls on one hundred thousand shares and the stock is quoted at 40. I begin with a call for some thousands of shares at 35, another at 37, another at 40, and at 45 and 50, and so on up to 75 or 80."
Jesse Livermore describes how he manipulates share prices in Reminiscences Of A Stock Operator, written 1923.
(NCTY, January.4th, 2021)
"Our goal is to build up cryptocurrencies mining machines for The9 that will contribute 8% to 10% of the global hash rate of Bitcoin, 10% of the global hash rate of Ethereum and 10% of the global hash rate of Grin and become one of the world's largest cryptocurrencies mining companies in terms of hash rate."
The9 Ltd – ‘POS AM’ on 2/9/21
"On January 25, 2021, we entered into a share subscription and warrant purchase agreement, or the Purchase Agreement, with several investors in the cryptocurrencies mining industry, including Jianping Kong, the former Director and Co-Chairman of Canaan Inc. (Nasdaq: CAN), a Bitcoin mining machine manufacturer listed on Nasdaq, Qifeng Sun, Li Zhang and Enguang Li, based on the pre-agreed legally-binding term sheet. Those investors are collectively referred to as the Investors in this prospectus. Pursuant to the Purchase Agreement, we issued 8,108,100 Class A ordinary shares in aggregate at US$0.1233 per Class A ordinary share and 207,891,840 warrants in aggregate, each warrant representing the right to purchase one Class A ordinary share, to the Investors in February 2020. The warrants are divided into four equal tranches: Tranche I Warrants, Tranche II Warrants, Tranche III Warrants and Tranche IV Warrants. The exercise price of each of the Tranche I Warrants, Tranche II Warrants and Tranche III Warrants is US$0.1233 per Class A ordinary share while the exercise price of the Tranche IV Warrants is US$0.2667 per Class A ordinary share. Each tranche of the warrants will only be exercisable upon the satisfaction of its respective condition in connection with the market capitalization of our company reaching US$100 million, US$300 million, US$500 million and US$1 billion within the timeframes of 6 months, 12 months, 24 months and 36 months from its issuance date, respectively. In addition, the Tranche III Warrants will be automatically forfeited with nil consideration in the event that the Tranche II Warrants fail to become exercisable within the specified timeframe and the Tranche IV Warrants will be automatically forfeited with nil consideration in the event that Tranche II or the Tranche III Warrants fail to become exercisable within the specified timeframe. The Investors shall make payment of the purchase price and the exercise price for the warrants in (i) cash, (ii) cryptocurrencies, or (iii) a combination of both, at our election. Pursuant to the Purchase Agreement, upon the satisfaction of the market capitalization condition of Tranche III Warrants, the Investors will be entitled to collectively appoint one director to our board of directors. Such appointment right will automatically terminate on the later of (i) the third anniversary of the closing date, and (ii) the date on which the Investors collectively hold less than 5% of our total number of ordinary shares on a fully diluted basis. The transaction was closed in February 2021. The Investors are expected to devote cryptocurrencies mining industry resources to us for our development of cryptocurrencies mining business.
In February 2021, we issued and sold (i) a one-year convertible note in a principal amount of US$5,000,000, (ii) 50,000 ADSs, and (iii) 10,000,000 Class A ordinary shares, for an aggregate consideration of US$5,000,000 to Streeterville Capital LLC, or Streeterville. The convertible note bears interest at a rate of 6.0% per year, computed on the basis of a 360-day year. Streeterville has the right, at any time after six months have elapsed since the purchase date until the outstanding balance has been paid in full, at its election, to convert all or any portion of the outstanding balance into ADSs of our company at an initial conversion price of US$14 per ADS, each ADS representing thirty Class A ordinary shares, subject to adjustment. Beginning on the date that is six months from the note purchase date, Streeterville has the right, exercisable at any time in its sole and absolute discretion, to redeem any portion of the convertible note up to US$840,000 per calendar month. Payment of the redemption amount could be in cash or our ADSs, provided that any redemptions made in cash which exceed half of the original principal amount will be subject to a ten percent (10%) premium. In the event the principal amount and interest accrued for the convertible note issued to Streeterville are fully repaid, we have the right to repurchase the remaining Class A ordinary shares held by Streeterville that are unsold at US$0.0001 per share.
In February 2021, NBTC Limited, our wholly-owned subsidiary, signed a strategic cooperation framework purchase agreement, or the Cooperation Agreement, with Shenzhen MicroBT Electronics Technology Co., Ltd., the manufacturer of WhatsMiner bitcoin mining machines. Pursuant to the Cooperation Agreement, upon the payment of a deposit, NBTC Limited has the right of first offer to purchase 5,000 WhatsMiner bitcoin mining machines from MicroBT within one year, including but not limited to models M32 and M31S. We completed first batch purchase of 440 WhatsMiner M32 machines in February 2020. Other than WhatsMiner bitcoin mining machines, we also plan to continue purchasing different types of cryptocurrency mining machines in the near future.
In February 2021. we entered into a standby equity distribution agreement, or the SEDA, with YA II PN, LTD., a Cayman Islands exempt limited partnership managed by Yorkville Advisor Global, LP pursuant to which we are able to sell up to US$100.0 million of our ADSs solely at our request at any time during the 36 months following the date of the SEDA. For details of the SEDA, see “Corporate History and Structure.”
In February 2021, we entered into purchase agreements with five Bitcoin mining machine owners to purchase Bitcoin mining machines by issuance of our Class A ordinary shares. Pursuant to the purchase agreements, we issued an aggregate of 26,838,360 Class A ordinary shares in exchange for 26,007 Bitcoin mining machines, with a total hash rate of approximately 549PH/S, accounting for about 0.36% of the global hash rate of Bitcoin. Majority of these mining machines have already been deployed in Xinjiang, Sichuan and Gansu in China. The number of Class A ordinary shares issued to each owner was determined based on the fair market value of Bitcoin mining machines, as apprised by an independent valuation firm prior to the execution of the purchase agreements, at a pre-agreed per share price of approximately US$0.37 per Class A ordinary share (equivalent to US$11.18 per ADS)."
Those perfect set ups..Just because you didn't get that perfect price, doesn't mean that you just should give up.
I remember seeing this stock last year and thinking to myself that it looked like the perfect set up.
Bitcoin , as with all speculative securities, was going parabolic, and RIOT was probably the top sympathy play in the crypto company sector, but I missed the initial move, and just forgot about it.
I`ll just be honest: it`s very hard to look at right now..
OSTK to Re-Test $125 All Time HighOSTK has just signed a major partnership with Prime Trust ... OSTK is essentially going after the institutional market and custody market. If you don't know about Prime Trust - here you can read more:
www.businesswire.com
About Prime Trust
Prime Trust, the crypto qualified custodian and trust company, today announced that it is the first US-based Qualified Custodian to partner with Fireblocks, a secure transfer platform. Through the partnership with Fireblocks, Prime Trust is adding another layer of protection to the industry’s most secure and trusted digital asset custody solution.
In the last eighteen months, over $3B of digital assets disappeared from various institutions due to exchange hacks, insider fraud, and human error.
Fireblocks’ technology provides a "secure highway" for crypto that eliminates the theft of private keys or compromise of credential/API keys and deposit addresses. The firm uses multiparty computation (MPC) and patent-pending chip isolation technology (SGX) to secure digital asset transactions from potential hacks and human error. As the first qualified custodian to implement Fireblocks, Prime Trust continues to lead the industry in security and compliance standards for crypto custody and exchange technology.
“Prime Trust has always set out to build the best-in-class, gold standard in everything that we do from our compliance to our security and our technology,” said Kevin Lehtiniitty, Chief Product Officer of Prime Trust. “Partnering with Fireblocks to leverage their secure crypto transfer infrastructure represents the next iteration of Prime Trust paving the way for the digital asset custody industry. We're proud to be the first qualified custodian to adopt this cutting-edge technology and provide our entire ecosystem with next-generation security. We look forward to building a deeper relationship with the whole Fireblocks team and building future partnerships.”
OSTK (tZero) and Prime Trust Partnership announced Jan 27th
Wed, January 27, 2021, 8:30 AM·9 min read
tZERO, a leader in blockchain innovation and liquidity for digital assets, announced today its partnership with Prime Trust, the leading provider of all-in-one, financial infrastructure for fintech innovators. This partnership sends a clear signal to the market that tZERO is committed to replacing legacy systems with the future of financial technology.
Wed, January 27, 2021, 8:30 AM·9 min read
tZERO, a leader in blockchain innovation and liquidity for digital assets, announced today its partnership with Prime Trust, the leading provider of all-in-one, financial infrastructure for fintech innovators. This partnership sends a clear signal to the market that tZERO is committed to replacing legacy systems with the future of financial technology.
This press release features multimedia. View the full release here: www.businesswire.com
tZERO CEO Saum Noursalehi stated, "Digital infrastructure isn't just another settlement or payment system – it represents an evolution in how we will issue, record, transfer and settle value seamlessly across markets and geographies by leveraging technology that is superior to the legacy systems and infrastructure in place today. The initiatives announced today affirm our commitment to remain agile and swiftly adapt to regulatory and technological developments in order to foster a robust and dynamic marketplace."
The partnership supports the custody of digital assets, including securities and cryptocurrencies, by users directly with Prime Trust, and enables trading of such digital asset securities on the tZERO ATS, tZERO’s broker-dealer subsidiary. Additionally, tZERO ATS filed to support self-clearing for itself and its broker-dealer subsidiaries.
Prime Trust’s API Integration Enables a Streamlined Transaction Experience
tZERO signed a technology integration agreement that allows Prime Trust to facilitate custody of digital securities and cryptocurrencies for its customers who trade such assets on platforms operated by tZERO’s regulated subsidiaries. This new infrastructure replaces reliance on third-party clearing firms, enables accelerated onboarding of new digital securities, improves the account funding process, and enhances the settlement process.
The updated central custody is also expected to replace tZERO’s existing cryptocurrency wallet, the tZERO Crypto app. This will improve the cryptocurrency trading experience through increased buy limits, faster transaction settlement, and a seamless process of onboarding new cryptocurrencies, subject to regulatory approvals and launch.
Prime Trust CEO Scott Purcell shared, "We’re thrilled to work with a leading fintech company like tZERO and to help them make this infrastructure change quickly. This is exactly how we designed PrimeCore, our leading compliance, payments, and proprietary API platform, to be used. We worry about the infrastructure, so our partners can launch on their terms and focus on their core business."
"We are delighted to partner with Prime Trust to give investors the ability to custody their digital securities and cryptocurrencies and trade them on the tZERO ATS," added Noursalehi. "This trading model creates flexibility for customers, subscribers, and issuers that wish to join our marketplace, and opens our marketplace to securities with greater blockchain functionality."
tZERO ATS Filing to Support Self-Clearing
In addition to the customer self-custody model, which would support digital securities and cryptocurrencies, tZERO ATS’s trading ecosystem will also continue to support a conventional broker-dealer clearing and custody model, principally for NMS securities. To be able to offer a broad product set, operate independently, improve margins, be nimble and innovate quickly, tZERO ATS filed a continuing membership application (CMA) to allow it to custody, clear, and settle securities transactions for itself and its broker-dealer affiliates.
tZERO is also working to evaluate the pathway for its broker-dealer subsidiaries to custody digital securities themselves, without reliance on any third parties, under the recent milestone Securities and Exchange Commission (SEC) statement that outlined how broker-dealers can engage with digital asset securities, including maintaining custody of these assets and settling on-chain without a clearing firm or a custodian. This is a critical milestone for digital security trading, custody and settlement in a next-generation trading ecosystem.
tZERO is a technology firm with the goal of democratizing access to private capital markets. tZERO is a subsidiary of Medici Ventures, the blockchain-focused, wholly owned subsidiary of Overstock.com, Inc. (NASDAQ:OSTK). To learn more about Prime Trust and the company’s all-in-one, financial infrastructure for fintech innovators, please visit www.primetrust.com.
Summary
This is actually really big news not just for OSTK but for crypto in general - this means that more institutions and traditional broker / dealers will now officially enter the crypto space by being able to self-clear cryptos in a regulated manner.... this is really huge news to be honest.
OSTK W formation Looks like OSTK is setting up for W forming which is completing on 81.
Disclaimer: I"m NOT a financial advisor. All trades idea are shared for educational purposes only. All advice is based on technical and my own opinion.
OSTK bought at 86We are waiting for the profit to come. buying when it broke out.
We bought RIOT, OSTK, ABEO, APA yesterday.
It's that time of year again--long OSTKHas consolidatied since September and has since bottomed, and recently broke the $85 resistance, is above the VWAPs from the lows and the August high, has earnings coming up, is coming off a massive volume shelf, and it's positively correlated with tZero, which has also bottomed and is coming out of that.
OSTK has a cycle and huge structure which can go up violently for a few months at a time (like this summer) and then spend a few months chopping up traders. NOW is the former. Watch out for resistance points like 95, 112, and 130, but with OSTk it's possible that it may not spend too much time around those levels after hitting them. I think previous highs will eventually be smashed in the next 2 months or so.
OSTK PREPARING FOR A BREAKOUT 116%After nearly five months...and over 60% pullback...OSTK looks about ready to continue its meteoric rise...currently, price appears to have found support at the 200 day moving averages...we have seen six weeks of bullish divergence in the rsi and cci...and on the weekly scale, the macd appears to be flattening...not exactly sure when this one will take off, but it looks as if it may be soon...initial target is $137 (116% from current price)...from there we play it by ear...IT'S YOUR MONEY, DYOR!!
