Hey there, Power Profit Traders, and happy (belated) Valentine’s Day!
Has Bitcoin bottomed out?
Why does a big drop on Ethereum make me happy?
Who won the Super Bowl? *Spoiler Alert* It wasn’t me, but I got myself a Super Bowl ring anyway.
In yesterday’s Power Profit Trades session, we answered all these questions and many more!
There’s a lot to cover, so we should go ahead and jump right in.
First, we looked at a chart of the last 100 daily candles on Bitcoin (BTC), which I believe has bottomed out:
- All-time high
- Price making lower lows
- Price making lower highs
- Lowest low in 100 days
- Price makes a HIGHER high
The big question for Bitcoin (BTC) is are we now making higher lows? We’ll find that out very soon!
As a reminder, my Microcurrency Trader members will be the first to know my buy and sell signals on these coins and a lot more!
Ethereum (ETH) had a very similar bearish move over the last 100 days, and it made me pretty happy.
Why? Because it gives me the opportunity to buy at a much better price when I see the move to the upside!
Remember to join me LIVE at 11:30 a.m. ET Tuesday morning, where I’ll be covering the three stocks I’m watching right now for trigger events on BRUTUS!
Wanna Be Like Bitcoin
The move on Ethereum (ETH) may appear similar to, or even stronger than Bitcoin (BTC)…but it might not be:
- All-time high
- Price making lower lows
- Price making lower highs
- Lowest low in 100 days
- Price FAILS to make a higher high!
If price manages to form a HIGHER LOW soon, then this cryptocurrency may be looking to continue its bullish move as well.
Another financial instrument that appears to be correlated to Bitcoin (BTC) is Affirm Holdings Inc (AFRM):
With negative earnings last week, this stock pushed to LOWER LOWS while Bitcoin (BTC) only dipped slightly.
What do I want to see from Bitcoin (BTC) before I will consider buying Affirm Holdings Inc (AFRM)?
These setups, and more like them, are covered in even more detail with my Microcurrency Trader group. Don’t miss out, click here to learn more and become a member today!
How’s the straddle trade setup on Kroger Co (KR) doing?
Check out my LIVE trading session replay from yesterday to find out!
I’ll be back tomorrow with another Power Profit Trades newsletter, andI’ll see you Tuesday morning at 11:30 a.m. ET for our next Power Profit Trades LIVE session!
See you there!
Tom Gentile
America’s #1 Pattern Trader
