Crypto – Some Perspective
After thinking about Bitcoin and my choice of a proxy for it, I clicked on the Tent to write a post about it and there was FGC’s post. Great timing. My take is that a bounce is due. Nothing to get excited about, nor anything I will try to play. What I see setting up, is a bounce to 600 for my proxy, Micro Strategy (MSTR). Guess if the weakness carries over to tomorrow’s stock market open, one could use a dip to the 400 area to go long for a trade to 600. I expect that price target to be reached in a few weeks and would be looking to buy puts at that time.