The Bitcoin buying climax on January 10-11 was described in our Jan 13th update as one of the "Four Trading Opportunities" of 2024, this one on the short side. We were awaiting a hard drop below $40,000 to trigger a fresh trade and over the past 24 hours that is exactly what is happening as Bitcoin fell through round number support at $40,000 while generating a Trend Model Sell Signal (large red arrow down). Bitcoin BITO - Best Bitcoin Option Vehicle Best Option Play - Intermediate Term High Risk: High Reward Trade The $18 strike is highlighted, but $17 is a close second. Note: BITO's low last October was $12.79. Use 50% trailing stop and be ready to take profits quickly if this trade goes in our direction early, i.e., a quick triple in a Bitcoin selling panic. If Bitcoin/BITO takes a dive toward last October's lows any of the listed puts could see a 3X to 5X (or better) pop in short order.
