الجمعة، 8 نوفمبر 2024

Is Bitcoin Ready to Soar to $85K… or Sink?

And post-election trades?
 
   
     
Is Bitcoin Ready to Soar to $85K… or Sink?
 
 
Let's dive in and run through the sectors and trades that could benefit from the election outcome certainty.  

Come join me as we dive in and see what’s moving! 

Plus, as always, we have stocks popping and dropping so come find out what is moving this morning as I look for stocks and do some live premarket analysis on SPX, SPY, NDX, QQQ, Russell, IWM and other stocks that are potential plays for the day. 

 
— — — 

Is Bitcoin Ready to Soar to $85K… or Sink? 

Crypto has been the star of the show lately, even in a market at all-time highs…

And if you’ve been watching Bitcoin’s meteoric rise, you’re probably feeling the thrill that comes with this type of breakout. The king of digital assets – Bitcoin (BTC) – made waves Wednesday, breaking out to the $73,000 zone before briefly retracing. 

But we’re still not done here. In fact, it’s clear this rally has more room to run, with some crucial resistance levels just ahead that could push BTC even higher.

Bitcoin’s three-day chart shows a move up to the $76,000 — a critical area that often acts as a stopping point before the next leg up. 

But the bigger prize lies above this level, with resistance hanging around $85,000. The pattern’s setting up beautifully to continue its bullish trend, and I’m not sitting on the sidelines here. I’m holding my positions — I have six figures invested in crypto names and Bitcoin itself, and I’m in for the long haul. 

And I’ll be really disappointed if we don’t get to six figures (in Bitcoin).

Let’s break down some of the key names involved... 

As Bitcoin moves toward the $85,000 zone, I’m looking at that area as a crucial decision point. With the log scale showing additional strength in this pattern, we could see a bigger move. 

But remember, profits aren’t profits until you book them — so manage your risk, stick to the plan, and protect those gains.

In the world of crypto, we’re either strapped in for the highs or preparing for a pullback. If you’ve been riding this wave, enjoy it – but don’t forget your exit strategy for your options positions. 

We’re not here to gamble on what could happen. We’re here to put probabilities on our side, trade the setups, and make disciplined decisions in a volatile space.


Today’s Daily Chart Setup: Genie Energy (GNE)  
 
 
This idea came directly from my Daily Chart Setup that automatically signals potential plays. 
 
GNE is a new potential entry. Target: 18.32 Stop below: 14.23
GNE has a historical win rate of 85.71%
GNE has a profit factor of 4.124
GNE trades last 37 trading days on average over 7 trades since 2011.

This is for informational and educational purposes only. There is inherent risk in trading, so trade at your own risk. Always remember that past performance is not indicative of future results.

You can find full details on exactly how this works by scrolling down further in this newsletter. 

Now be sure to join me live at 9:15 a.m. ET for “Morning Monster,” my market-open livestream on YouTube!

 
 
‘Morning Monster’ Is Starting NOW!
I’m also live at 5 p.m. ET on Tuesdays for “30 Minutes of Awesome” — bring your ticker and I’ll analyze it in real time!

And be sure to hit that Subscribe button on my YouTube page!
_____________________________________________________

SEC Document Reveals Shocking Gold Pattern… 
 
 
Listen…

While Donald Trump’s path to the presidency is grabbing headlines, something much bigger just surfaced in the gold markets.

After analyzing decades of gold data, I noticed something bizarre… 

Almost all of gold's gains have come on a single day of the week.

Friday.

The rest of the week? Essentially flat.

 
 
This "Friday phenomenon" has been quietly making traders money for over 17 years straight.

But here's where it gets interesting…

On Dec. 5, the SEC quietly passed an amendment that turned this pattern into something much more powerful.

 
 
 

We've been testing a new strategy based on this, and the results have been incredible… 85.7% accuracy so far.

Think about that.

While most traders are stuck watching their gold positions crawl up 1-2% over months…

This method could have you targeting double- or even triple-digit gains in a few days.

And with gold just smashing through its $2,758 to all-time high — for the fifth time this year...

Plus central banks stockpiling it at record rates…

 
 
The Timing Looks Perfect
The profits and performances shown are not typical and you may lose money. The majority trades expressed are from historical backtested data in order to demonstrate the potential of the new system. From 11/22/2023 - 10/31/2024 on live trades the win rate has been 72.4% with an average return of 23.4% (winners and losers), average winner of 58% with an average hold time of 2 days. 
_____________________________________________________
How the Daily Chart Setup Works
 
 
Here’s a more detailed description of how the pattern triggers:
 
1. The price breaks upward through the orange Market Roadmap Line. 

2. Then the price goes up and down while staying above the line. Eventually, it comes down to touch the line again — this could take days, weeks or even months. 

3. Once it touches the line and starts moving back up, that signals an entry. 

I use Fibonacci levels for for profit targets and stop losses, and these two tools combined have helped me achieve a 77% win rate over the past six-plus years!

You can grab my Market Roadmap Indicator here for just $5 — less than a cup of coffee at most places!
Jeffry Turnmire
Jeffry Turnmire Trading

I host my “Morning Monster” livestream at 9:15 a.m. ET each weekday on YouTube, and then “30 Minutes of Awesome” at 5 p.m. ET each Tuesday!

Please check out my channel and hit that Subscribe button!

I’m just a regular dude in Knoxville, Tennessee: a husband, father, civil engineer, urban farmer, maker and trader.

I've been at this trading thing with real money for 20-plus years, and started paper trading over 35 years ago. I have a knack for making some epic predictions that just may very well come true. Why share them? Because I like helping other people — it's the Eagle Scout in me. 


*This is for informational and educational purposes only. There is inherent risk in trading, so trade at your own risk. 
   
 

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