On Feb 26th I sent to PRO Subscribers a Special Alert to Short Bitcoin. We suggest Mar and/or Apr puts, both of which reached triple digit gains, kicking in 50% trailing stops. Those stops have just been hit, so other than a "just in case" left-over number of puts, most traders should for the most part be out of the short position. However, the Bitcoin chart below looks to be setting up for a fresh leg down. What has my attention is the amount of decline that is possible. KEY WORD: POSSIBLE. BTC BTC found support between $79K-82K over the past couple of days and is now trading at around $88K. A retest of support is possible, a failure of which, below about $80K, would raise the probability of a fresh leg down, one which would be accompanied by exponential returns in IBIT puts. That's a lot of "what ifs" to consider, but do consider this the main one: A break below $80K would be our signal to add more IBIT puts in anticipation of that decline. IBIT These are some of my Advanced GET indicators from my hedge fund days, which have now found their way into Trading View charts. If it looks as easy as going long on blue bars and short on red bars, it kind of is. For our immediate purposes, the only high probability trade is a decline taking out the Wave 3 lows on the chart, which would then target the Wave 5 level, minimum. On a Breakdown below $80K:
