This chart of bitcoin (one day delayed) is presenting an interesting unfolding of a Wave 5 Buy Signal. If triggered, we would look at it as an opportunity to get back into the OSTK Mar $75 calls and depending on other factors, an early trigger to get back Long GBTC. Bitcoin is trading more like a commodity than a stock, which is good for Elliott Wave analysis, which has always been more effective on commodities than on stocks. I'm watching and waiting for the right timing to get back into both of these Special Situation positions. As for the third pillar of our "Bitcoin Portfolio," MGTI, It had another good day, trading up almost 10% as bitcoin has started to recoup some of last week's carnage. A wave 5 Buy would target the mid-20K's for the next bitcoin leg up.
Updated Trading Tables
Gold is only $4 away from an intermediate term Buy Signal. Apart from bitcoin, it's about the only action today.