Jun. 29 at 8:20 PM
$BITO ProShares Bitcoin ETF watch, two options: hold the 8.13 support area and rally or continue lower with a bottom breakdown, see also
$BITU $BITX $IBIT ETFs at https://stockconsultant.com/?BITO
Breakdown trade
WATCH for breakdown below 7.91
Target: 6.93, 15.4% Cover: 8.44 Loss: 3.1%
P/L ratio: 5 : 1 - Excellent
Long trade
TARGET 1
Price: 9.49 Profit: 15.9% (Typical rally)
Stop/Trailing Stop: 7.92 Loss: 3.3%
P/L Ratio: 4.8 : 1 - Excellent
TARGET 2
Price: 9.89 Profit: 20.8% P/L Ratio: 6.3 : 1 - Excellent (Extreme rally)
BULLISH
[Positioning] Oversold, odds favor long trades.
[Positioning] Strong Down trend (1 month), may start to turn sideways.
[Positioning] Intermediate trend possibly bullish, Sideways trend near lower support.
[Positioning] at support
[Timing] Mild bullish 3 day candlestick pattern with Extreme 3 day accumulation.
[Timing] Extreme bullish 1 day moneyflow
BEARISH
[Timing] breakdown watch below 7.91, no support in area just below.
