{"id":16715,"date":"2024-11-12T15:55:19","date_gmt":"2024-11-12T15:55:19","guid":{"rendered":"http:\/\/blog.leavittbrothers.com\/?p=16715"},"modified":"2024-11-13T13:55:48","modified_gmt":"2024-11-13T13:55:48","slug":"this-might-be-the-next-big-move-for-bitcoin","status":"publish","type":"post","link":"https:\/\/blog.leavittbrothers.com\/?p=16715","title":{"rendered":"This Might be the Next Big Move for Bitcoin"},"content":{"rendered":"\n

Monday was all about bitcoin. Relative to Friday\u2019s stock market close, bitcoin gained more than $10,000. This is likely it\u2019s biggest single-day dollar gain in its history.<\/p>\n\n\n\n

Bitcoin stocks did great too. The miners haven\u2019t posted gains like this in a while.<\/p>\n\n\n\n

At Leavitt Brothers, we\u2019ve been on top of this move, profiling many stocks starting a few weeks ago.<\/p>\n\n\n\n

There have been false moves all summer, but this one looks to be the real thing. In this write-up, I\u2019ll cover bitcoin and then some long-term bitcoin miner stocks.<\/p>\n\n\n\n

This is one bitcoin chart I’ve posted. A solid rally the last quarter of 2023 and first quarter of 2024 morphed into a somewhat frustrating rectangle, which has now resolved up. Last week was huge. This week is already huge.<\/p>\n\n\n\n

\"\"\/<\/figure>\n\n\n\n

This is a zoomed out version. A double top in 2021 turned into a 3-year cup-and-handle. The depth of the handle measures to 90K. The cup measures to 130-150K.<\/p>\n\n\n\n

\"\"\/<\/figure>\n\n\n\n

Let’s run through the top bitcoin names. These are weekly charts, unless otherwise noted.<\/p>\n\n\n\n

BTBT is at its highest level in 2+ years.<\/p>\n\n\n\n

\"\"\/<\/figure>\n\n\n\n

BITF is trying to exit a pattern that has persisted for an entire year.<\/p>\n\n\n\n

\"\"\/<\/figure>\n\n\n\n

MARA has spent the entire year in a wide range, but after today’s 30% move, it’s starting to resolve up.<\/p>\n\n\n\n

\"\"\/<\/figure>\n\n\n\n

RIOT has moved between parallel trendlines since April 2023. But after last week and today’s move, the stage is set for an attempted breakout.<\/p>\n\n\n\n

\"\"\/<\/figure>\n\n\n\n

CLSK was a great performer until it topped early this year. Perhaps today’s 30% rally gets it back on track.<\/p>\n\n\n\n

\"\"\/<\/figure>\n\n\n\n

WULF broke out in June and then again four weeks ago. There are clear skies ahead with lots of positive volume to support the gains.<\/p>\n\n\n\n

\"\"\/<\/figure>\n\n\n\n

IREN just came out of a small base but is still within a much bigger base. If that resolves up, the stock can rally into the high 20’s.<\/p>\n\n\n\n

\"\"\/<\/figure>\n\n\n\n

CIFR has a messy chart, but it’s not far from a 3-year high.<\/p>\n\n\n\n

\"\"\/<\/figure>\n\n\n\n

HUT is just now coming out of a 2-1\/2 year base.<\/p>\n\n\n\n

\"\"\/<\/figure>\n\n\n\n

HIVE is weaker than the others and still basing.<\/p>\n\n\n\n

\"\"\/<\/figure>\n\n\n\n

MSTR just holds bitcoin (with some leverage). I don’t know how bitcoin can go up a little, and MSTR can double in six weeks, yet there it is.<\/p>\n\n\n\n

\"\"\/<\/figure>\n\n\n\n

MSTX and MSTU are leveraged versions of MSTR<\/p>\n\n\n\n

\"\"\/<\/figure>\n\n\n\n
\"\"\/<\/figure>\n\n\n\n

That’s enough. There are others, but you don’t need many. You can decide how much to put into bitcoin, and then spread it between 4-5 names. You certainly don’t need 10 or 15.<\/p>\n\n\n\n

I\u2019ve said for a long time, either trade the stocks or hold the stocks. Don\u2019t be in the middle.<\/p>\n","protected":false},"excerpt":{"rendered":"

Monday was all about bitcoin. Relative to Friday\u2019s stock market close, bitcoin gained more than $10,000. This is likely it\u2019s biggest single-day dollar gain in its history. Bitcoin stocks did great too. The miners haven\u2019t posted gains like this in a while. At Leavitt Brothers, we\u2019ve been on top of this move, profiling many stocks […]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[3],"tags":[],"_links":{"self":[{"href":"https:\/\/blog.leavittbrothers.com\/index.php?rest_route=\/wp\/v2\/posts\/16715"}],"collection":[{"href":"https:\/\/blog.leavittbrothers.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/blog.leavittbrothers.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/blog.leavittbrothers.com\/index.php?rest_route=\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/blog.leavittbrothers.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=16715"}],"version-history":[{"count":1,"href":"https:\/\/blog.leavittbrothers.com\/index.php?rest_route=\/wp\/v2\/posts\/16715\/revisions"}],"predecessor-version":[{"id":16716,"href":"https:\/\/blog.leavittbrothers.com\/index.php?rest_route=\/wp\/v2\/posts\/16715\/revisions\/16716"}],"wp:attachment":[{"href":"https:\/\/blog.leavittbrothers.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=16715"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/blog.leavittbrothers.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=16715"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/blog.leavittbrothers.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=16715"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}