ProShares Bitcoin ETF
Panjang

BITO: Risk on ride

73
BITO 390m: Breakout from structure held since June 2022 and move over value area high. Auction has now moved over key MAs. Aggressive movements & high vol in the crypto sector has produced risk on sentiment and a two day upside of +30%; diverging from recent equity sentiment. Continued price action and breadth in this space could see BITO continue its current move to price rediscovery of May 2022 levels into the 18.14, 22.48 vPOCs; contingent of exhaustion absence//Will monitor how derivatives position post market favored CPI reports this am and into EOM OpEX, compression of volatility, and Fed speak// RVOL 3.56, IV: 87.40%, Fast Beta: 0.77, Notable that ATR: 0.67// Bias: Acute long// Price at time of publish: 15.95

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