Still Building That BREAKOUT Ramp
Huddle Up Traders!
BTCS Inc. (BTCS) has been a win for us since I laid it on you back on Sunday. The only question now is how MUCH win it can earn!
BTCS first hopped from Monday’s $0.088 entry when management vowed to put up 24 million of their own shares to guarantee that things would go OK.
Since then, it looks like the merger part of that promise is on track. The Israeli company BTCS wants to buy just got regulatory clearance.
And now management is stepping up again to remind shareholders of all the numbers going the right way: revenue, scale, additional funding.
All the right moves, but look at how much room we still have on the chart for the price action to deliver:
Monday started well before Wall Street’s mood swing got in the way. Yesterday, though, BTCS jumped 17.6% to close at the intraday peak!
This morning gives us a little more consolidation as the market reels but we’re holding the Monday low right now. I like that.
As long as BTCS holds the floor, the downside here seems a little “constrained,” leaving the ceiling open!
Right now I keep looking at $0.10 as a place for the ceiling to start. It’s right on the 50-day line, give or take a fifth of a penny.
If BTCS can test that level, our Monday open is back in the long green. And if we BREAK through, the sky opens up.
That’s the kind of play we love. So keep BTCS on screen and maybe if you see a place to PARTICIPATE, you know: nudge around.
Happy, Happy, Happy Trading!
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