Follow up to 6/22 post -
https://732charts.substack.com/p/bitcoin-on-the-move
$BTC is still churning below $30K, which as previously mentioned, makes it a no-touch for me. Was able to put on a successful trade in MARA 0.00%↑ a few weeks back. The stock has pulled back, is up a bit the past 2 sessions, and has the eyes of many technicians. The zoom out shows the uptick in volume this year, and the upside potential if it does make a run.
But I’m not getting excited, yet. It’s been unable to clear the AVWAP from a recent high in July, and until such time as that level gets crossed, I’m not ready to get back in. We may even see something a little closer to the 200 day (green) first.
MARA 0.00%↑ over direct $BTC is just another way to play the trade. It’s worked this year, and if I do enter, I’m inclined to play it this way, unless data to the contrary suggests otherwise.
