IBIT — 4 entries on this page, 2 of them a change of direction.
Guess what? IBIT is up. Yes, it is. Not so bad. You know, it it came in. It held a big portion of the gap. I'm long the $46 calls for November. I went out to November because I wasn't sure how long this is going to take.
I am in some IBIT calls.
Uh where we're not seeing a move to the upside is in this next one. The IB Bitcoin ETF. We got uh the vote on the Clarity Act yesterday did not go in the favor of the crypto industry and is on hold at least past the midterms perhaps into next year. Uh how are you looking at IBIT, Don?
Bitcoin, if you pull up the monthly chart of IBIT, Ibit, uh, you know, so that was a really strong move up, but it's right at resistance. It's right at the declining 20.
So, if you look up ETH or or or Bitcoin, I was actually on the mic and I was telling the students that it's not that I love the position here, but if this is the bottom, it's such a tight stop.
I want to be in um and it exploded higher on August 18th, 18th or 19th. And so, I'm in it from that point. And I don't want to like lose my position, but at the same time, I I see the writing on the wall.
I see the market turning bearish and I see where Ethereum and Bitcoin are at on the daily and the on the weekly and and the monthly right at resistance. So, I think uh we come in a little bit.
crypto's acting pretty well today it's true I actually been buying IBIT on dips only never into strength lately.
I am a betting man cuz I'm buying the $46 calls on IBIT for for November, not for tomorrow, for November.
