COIN appears to be trading more in line with the NASDAQ than Bitcoin, I think there are better plays out there if you are bearish on BitCo(i)n.
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I expect NQ1! (NDX futures) to fill the Sunday night gap which probably means COIN heads back to $60, then I'm shorting it again because their business model is obviously broken.Probably happens next week, but pay attention to what happens after the Fed meeting today
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Complete disconnect between fundamentals (BTC/crypto prices) and price movement because of short squeeze and futures pumping ahead of the Fed press conf. This is an easy short after NQ gets overbought following the meeting, maybe as soon as Friday.Watch NQ1! and short whenever you expect Nas futures to go down.
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If you're actively trading this, we're gonna see an extreme whipsaw starting in about 20 minutes because of the Fed.Trade active
Snagged a few puts, next week's on the .75 hikeEven if NQ goes up BTC will crash over the weekend and I'll get my money back, lol.
Go with next week's options
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Added more puts, next week's to be safe. Tomorrow is a down day, not sure how much, but 3% index pump on bad news is stupid. No follow through tomorrow.Trade closed manually
Flipped my puts this morning for a nice gain.I think the way to play this stock is buy before close then flip in the morning because Americans are the only ones to buy crypto, they sell off overnight
Trade active
Grabbed a few puts because Bitcoin is now dropping plus I think the market does reverse until tomorrow. Might add EODTrade closed manually
Flipped the puts when it went red, easy out despite getting market direction wrong.Seems like this stock opens in the direction of Bitcoin then tracks the market. Just assume I'm buying puts in the afternoon and flipping on open, lol. No further updates, just playing around with a few contracts for kicks and giggles.
Definitely buying puts this afternoon in case cryptos crash over the long weekend.
Order cancelled
COIN trades with the market, probably shorting MSTR instead over the weekendThey are effectively bankrupt
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.