A good risk reward ratio for shorting the BITB ETFOnce the price action returns back to the bullish trend line, then this trade is stopped out else we have two targets to look at, a pretty good risk reward ratio.......
BITB trade ideas
BTC Bullish or Bearish? AMEX:BITB
Using an AI Super Trend Indicator, on 1hr intervals, the output showed a moderate strength (3) buy signal. Understanding the high volatility and increased levels of trade volume of BTC ETFs as of late, I am now grappling with the idea that we can expect a bull market for the coin. Enclosed is a rough Fibonacci retracement analysis, which illustrates my theoretical prediction.
Speculative Long into BITB ETFI saw a window of opportunity yesterday night and took a small position to went LONG into BITB ETF. You can read more about this ETF here
So you pay zero expense fee for the first six months which is nice. Let's see how it performs in June/July 2024.
A good read comparing the different Bitcoin ETFs
$BITB Bitcoin Spot ETF Performance After Jan 11 Debut- Selloff to start the trading day
- Potential reversal forming around $25.57 with wicks below
- Low trading volume = $2.6 million and counting
