MFI hit overbought premarket, this could be the next leg down. Regardless, I wouldn't go long until MFI gets oversold again.
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If that's a bear flag, then that's a long ways down....
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Premium burn is terrible on BITO options, decided to close out my $12.5 puts here, still holding 100 contracts of $12 puts. Just gonna let that $2,5k ride for the week, see if BTC crashes, lol.
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Shifted into next week's puts, sucks to pay the extra premium but I'm not sure the big tank happens until this weekend.
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Guess my assessment at market open was right, lol.
הערה:
I don't recommend going long until next week, since I'm not sure what happens with Euro inflation numbers Thu and employment numbers Friday
Really no reason to be bullish this week,