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Is Now The Time for BITO?

 
   
     
   
 
FEB 7 2023
 
   
 
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SCOTT WELSH
Here Comes BITO (Bitcoin ETF)

You can just feel the nervous, hyperactive angst of the market.

Watching the charts when Fed Chairman Powell talks is like walking on eggshells and thumbtacks at the same time.

One wrong word, one vague dangled participle, and the whole market could tank.

And one ambiguous-but-not-quite-negative remark can send the market flying.

And guess what’s happening as I write this?
 
 
The market is rising rapidly.

Which leads to all sorts of possibilities if there isn’t a dramatic turnaround (which, of course, is always possible these days). 

If the market stays positive, Bitcoin might become a buy for the first time ever.

Wait, Bitcoin has around for years. 

No, I’m talking about BITO, the Bitcoin ETF.

This ETF came out during the Crypto Winter and it’s been getting pummeled relentlessly.

Until now. 

Now, it’s actually quite close to being a legitimate Buy:
 
 
A break above $15.18 could lead to a nice move up. 

We’re definitely going to see some surprises in the upcoming weeks.

BITO might be one of them.

Happy trading,
Scott

 
   
 
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