📈 Time to Buy Bitcoin?

Is Bitcoin a buy at these levels?

Bitcoin Analysis

I want to take the time to highlight what is going on with Bitcoin because it is starting to get interesting.

The chart is setting up by building a pennant that typically leads to moves higher. Let’s take a look:

You can see how we have been in this trading range for months now. Last week was very strong and it looks like we may finally have the legs to push higher out of the pennant.

In terms of the specific Bitcoin-related stocks to look out for, my top watch is MSTR. It is above the 55 SMA and showing strength. COIN and MARA are other names that you can keep an eye on as well.

Remember that MSTR is an extremely volatile name, so just be careful with trading it. If you want leverage, MSTX is a new bull ETF for MSTR that is 1.75x MSTR.

COIN is showing a similar pattern as MSTR of breaking out of a flag and pushing higher.

If Bitcoin is able to re-test highs, these stocks will move at a greater rate than Bitcoin itself, therefore I would be focusing on the Bitcoin stocks as opposed to Bitcoin itself, however trade what you feel comfortable with.

I dive deeper into what I am seeing with Bitcoin here: