Bitcoin is approaching its previous highs, and we're watching for a potential breakout. Historically, Bitcoin miners like MARA amplify Bitcoin's moves, offering leveraged exposure. On Friday, MARA gained 10.29%, with its June at-the-money calls (40 days out) up ~50% and September out-of-the-money calls up ~30%. If Bitcoin rallies this summer, options on miners or Bitcoin ETFs could offer significant returns, though risks are substantial. Note on the MARA daily chart below, the run last year from Sep to Nov took price from $13 to $30 in about two months, almost a triple, and that was during a B Wave of an A-B-C decline. The suggested wave count below is an impulse wave, targeting new highs > $40.00.
Options trading and cryptocurrencies carry high risks, including the potential loss of your entire investment.
Bitcoin Daily
Going Long at breakouts of even numbered EW channels, a/k/a "Wave 5 Buy Signals."
MARA Daily
MARA Hourly
MARA 30 Minute
MARA Call Options
Risk 50% to make 3X, 5X and/or 10X.
Trade Management: Hard stop @ -50%; Once up 50%, move stop to break-even; once up 100%, institute a 50% trailing stop basis best return.
Jun
Targeting 3X before expiration.
July
Targeting 5X before expiration.
Sep
Targeting 10X before expiration.
Past performance is not indicative of future results.