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2x Bitcoin Strategy ETF

2x Bitcoin Strategy ETF (BITX)

53.24
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Closed December 30 4:00PM
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BITX Discussion

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price_and_volume price_and_volume 2 weeks ago
Keeps running... inauguration $BTC targets $120-150K?

For years I've suggested one $BTC will eventually pay for a median-priced house ($450K) based on "one tulip traded at the equiv of a median-priced home" back in the day...

Trump-trade continues, bullish rumors abound, etc

Whatever, GLTA!
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price_and_volume price_and_volume 3 weeks ago
Liquidity drain in-motion? 30% pullback in $BTC?

https://themilkroad.beehiiv.com/p/is-a-30-pullback-near
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price_and_volume price_and_volume 4 weeks ago
"Navigating Post-ATH Trends"

https://insights.glassnode.com/the-week-onchain-week-49-2024/
Bitcoin reached a new ATH of $99.4k after a prolonged period of trading within the range of $54k to $74k.

Several risk metrics we monitor have entered the Very High Risk 🟥 zone, reflecting a state of elevated unrealized profits and an increased susceptibility of investor sentiment to corrections.

The Realized Profit/Loss Ratio now shows intense profit-taking is underway, hinting at a potential period of near-term demand exhaustion.

With that said, realized profit volumes have declined by 76% from the ATH peak, and perpetual futures funding rates are also easing off, indicating the market is rapidly cooling off.

Early supply redistribution patterns suggest key demand clusters are between $87k and $98k, with very little supply having changed hands during the rally from $74k to $87k. Whatever. GLTA!
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price_and_volume price_and_volume 1 month ago
$BTC Power Law Model:

https://charts.bitbo.io/long-term-power-law/

https://studio.glassnode.com/metrics?a=BTC&m=indicators.PowerLaw

Trade 'em well.
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price_and_volume price_and_volume 1 month ago
Sold a bunch of puts lower.

Hoping to replace recently sold $BITX w/ shares put-to-me at selected round-numbers lower...

We'll see how it goes.
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price_and_volume price_and_volume 1 month ago
Also interesting re $MSTU and $MSTX:

Booming MicroStrategy ETFs Are Straining Limits at Prime Brokers

https://finance.yahoo.com/news/booming-risky-microstrategy-etfs-testing-144221424.html
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price_and_volume price_and_volume 1 month ago
Looks like I picked the wrong ETF...

Trying to not look a gift-horse in the mouth here, but $BITX has been the underperformer.

Both $Microstrategy ETFs are pure $BTC bets, nobody cares about $MSTR's underlying business.



$MSTU v $MSTX v $BITX


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price_and_volume price_and_volume 1 month ago
Plenty ETFs, but I don't make recommendations.
to this day I still don't even know how to buy crypto... You don't need to buy crypto or have a crypto wallet or blah blah blah

ETFs abound, as do miners & $MSTR (and its own ETF $MSTX) are 'pure plays' on crypto MOMO.

Everything feels stretched but who tf knows?

Not me, I just do what I can to make a little here & there, and NOT LOSE too much.

GL!
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m$teamworkotc m$teamworkotc 1 month ago
they can get rugged pulled at any time...I remember Bitcoin 74k to like 14k?
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m$teamworkotc m$teamworkotc 1 month ago
to this day I still don't even know how to buy crypto...
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m$teamworkotc m$teamworkotc 1 month ago
I missed all crypto as I was led to believe they have 0 intrisinic value and were ponzis...I should be rich :( story of my life
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price_and_volume price_and_volume 1 month ago
Maybe shoulda bot $MSTX instead...

But that's had a craaaazy day lol.

Oh well, you take what you can get:

1. Buy real things w/ value OR are in-demand.

2. Or chase MOMO which also works well, and sell into further MOMO.

3. But NEVER buy things w/ NO VALUE or things that are downtrenders - that leads to the poorhouse.

GLTA!
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m$teamworkotc m$teamworkotc 1 month ago
wowwwwwwwwwwwwww.your rich p&v
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price_and_volume price_and_volume 2 months ago
More boomage, but look at $MSTX...

All crypto continues to pump massively on Trump.

Miners on fire.

Enjoy it while it lasts!

GLTA
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price_and_volume price_and_volume 2 months ago
Smiles all-round.

Blue-sky breakout on $BTCUSD as expected on Trump win.

What's next?

Nobody knows - trade the flow as best you can.
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price_and_volume price_and_volume 2 months ago
Easy money for now.
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price_and_volume price_and_volume 2 months ago
Trump priced-in it seems, so ride the waves...
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price_and_volume price_and_volume 3 months ago
Come to Papa, hopefully another swing setting up...

Scaling-in & scaling-out has worked for a while.

Good trading vehicle so far.

GLTA
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tw0122 tw0122 3 months ago
Champion ETF one of my favorite just hold some here until $100,000
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tw0122 tw0122 3 months ago
Nice return today
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price_and_volume price_and_volume 4 months ago
Still hopeful.
I'd like to see $BTCUSD woosh to $42...

Maybe get some $BITX fills $10-15.
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price_and_volume price_and_volume 4 months ago
Little bitta FUD. Hope it's all true!

All the daily BTC newsletters & podcasts are uber-bullish. Personally I wanna reload $BITX lower (cuz I'm bullish BTC longer-term), so I'm hoping for a downward cascade in $BTC & consequently $BITX.

https://www.cryptopolitan.com/us-government-btc-silk-road-sales/

https://cointelegraph.com/news/bitcoin-room-to-fall-unusual-open-interest-coinglass

https://cointelegraph.com/news/bitcoin-binance-funding-rates-lowest-2024-bearish-sentiment
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price_and_volume price_and_volume 4 months ago
C'mon down, bids waiting.

Fill me.
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price_and_volume price_and_volume 5 months ago
I'd like to see $BTCUSD woosh to $42...

Maybe get some $BITX fills $10-15.
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price_and_volume price_and_volume 5 months ago
July 4th limit-buys @20 finally filled today.

I've added additional buys lower but expecting this to be a good trade after MT GOX dumpage ends... whenever that is.

GLTA
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