Crypto Whales Are Loading Up — Are You?
New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.
Current Long Positions (stop-losses in parentheses): SPY July 129 Calls, AAPL July 330 Calls, MHLD (7.04), KKD (8.65), AGYS (7.77), IDIX (5.06), NYT (7.98), RIGL (8.24)
Current Short Positions (stop-losses in parentheses): None
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BIAS: 23% Long
Economic Reports Due Out (Times are EST): ICSC-Goldman Store Sales (7:45am), Redbook (8:55am), S&P Case-Shiller HPI (9am), Consumer Confidence (10am), State Street Investor Confidence (10am)
My Observations and What to Expect:
- Futures are slightly lower heading into the open.
- Asia finished as much as 0.7% higher, while Europe is mixed/flat in their trading.
- Strong contrarian move to start the week, in which most Monday's of late have had a very bearish tone to them. The S&P managed t close back above the 10-day moving average, but still below the 20-day. Look to see whether we get that additional 1-2 day pop higher, with us having broken the 10-day MA again, and whether that move can push us through the 20-day as well. To-date, we have been unable to close above the 20-day MA. The last five trading sessions (6/21-6/27) have been nearly identical to the market action that we saw on 3/11 through 3/17, in which the market bottomed. Here's the chart showing the similarities.
Crypto Whales Are Loading Up — Are You?
New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.