We Are All Parabola Traders Now

Focus on Bitcoin & OpEx with SPX Levels. Options Expiration Week & $6000. Macro Matters To Animal Spirits. Market Melt-Up 'Risk'.

»CLUB/EDGE client post November 12th, 8:15 AM ET.

Notes on Bitcoin & OpEx with SPX Levels

Bitcoin swing long and proxy updates are posted under swing-ideas (from mid-October) and include: BTCUSD > 67,500 (with call it could double in time) with MSTR leading followed by HOOD, COIN then MARA.

I have also posted a good deal of fundamental data on MARA ahead of earnings 11/12. It is up 25% as BTC hits $85K and MSTR announces new BTC holdings. Long story short:

We are ALL parabola traders now.

Translation:

Parabolas are Trapped Longs
That can Trigger Volatility
And Liquidation Event

And as warned: EVERYONE could see this wedge breakout higher in BTCUSD, so buyers stepped in and hard.

Now we await profit taking to turn into actual selling, and my indicator (bottom panel) isn't even extended yet.

I know it's hard to believe, but as I warned, getting/staying above $68K area could turn into a double - in time.

It's harder to time how long that would take, but with bitcoin we know that it actually can be a straight line.

Options Expiration Week & $6000

Let's talk options post Fed cutting as expected last Thursday and Trump getting elected as expected last Wednesday.