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    One of the Best Ways to Trade Bitcoin Stocks

    Ian Cooper
    Friday, May 17, 20243 min read
    One of the Best Ways to Trade Bitcoin Stocks

    If you’re not a big fan of trading cryptocurrencies, like Bitcoin, that’s understandable.

    Many traders – including myself – don’t trade it directly.

    But that doesn’t mean we should miss out on the rally.

    Instead of trading Bitcoin or other cryptos directly, we can trade mining stocks, like Marathon Digital, Riot Platforms, the ProShares Bitcoin Strategy ETF, and even MicroStrategy, which now holds about 214,400 Bitcoin.

    One of the best ways to know whether to go long or short Bitcoin, or any of those mentioned Bitcoin-related stocks is by paying close attention to technical pivot points. For example, by paying attention to the Bitcoin Bollinger Bands, relative strength, Full Stochastics, and Williams’ %R, it’s easy to spot where to buy and when to go short.

    Granted, it’s not a perfect system. That doesn’t exist. But it will help point you in the right direction, based on momentum.

    Here’s a two-year chart of Bitcoin, for example.

     width=441 height=412 /><br />Look at what happens when RSI pushed to or below its 30-line. Bitcoin starts to bottom out.</p><p>To strengthen our argument for a potential push higher, we can also use Bollinger Bands (in this case they’re set a 2,20, or two standard deviations above and below the price of Bitcoin). When RSI is at or near its 30-line, and Bitcoin hits or penetrates its lower Band, we typically see a bounce. But we can strengthen our argument even more.</p><p>We now turn to Full Stochastics. When it drops to or below its 20-line, it tells us Bitcoin is oversold and ready to bounce. We can also throw in Williams’ %R – which actually turns higher and lower before Bitcoin does. With Williams’ %R, when it drops to or below its 80-line, it also confirms Bitcoin is oversold.</p><p>When all four indicators align in oversold territory, we know a bounce is around the corner.</p><p>For now, we’ll let you play around with it. We can jump into how to call tops in our next article.<br />If you're tired of sitting on the sidelines keep reading because they said Crypto was dead...but it went up 100X.</p><p><a href=https://www.ipsjdj3jks.com/4C2WD7/4CF329/?creative_id=468&sub1=468%203a&sub2=51724&sub3=6><strong>Bitcoin’s haters are out again.</strong></a></p><p><span data-contrast=auto>Despite the price doubling in the last six months alone…</span></p><p><span data-contrast=auto>That hasn’t stopped the experts from piling on.</span></p><p><span data-contrast=auto>Warren Buffett’s right-hand man Charlie Munger called crypto investors </span><em><span data-contrast=auto>“idiots” </span></em><span data-contrast=auto>in one of his last interviews.</span></p><p><span data-contrast=auto>JPMorgan CEO Jamie Dimon, recently called Bitcoin a </span><em><span data-contrast=auto>“pet rock” </span></em><span data-contrast=auto>and </span><em><span data-contrast=auto>“a hyped-up fraud.”</span></em></p><p><span data-contrast=auto>But when it comes to cryptos, these are exactly the people you shouldn’t listen to.</span></p><p><span data-contrast=auto>They’ve predicted crypto’s demise for years.</span></p><p><span data-contrast=auto>One website, 99bitcoins, has tracked it.</span></p><p><span data-contrast=auto>In 2018 alone, over 100 media sources proclaimed the death of Bitcoin.</span></p><p><span data-contrast=auto>Yet it rose 1,825% afterward…</span></p><p><span data-contrast=auto>They could make exponentially more than Bitcoin.</span></p><p><strong><a href=https://www.ipsjdj3jks.com/4C2WD7/4CF329/?creative_id=468&sub1=468%203a&sub2=51724&sub3=6>Click here to get the details on this exciting crypto project.</a></strong></p><div data-below-article-slot class=

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    Written by Ian Cooper

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