Everyone has been getting into the cryptocurrencies and talking about bitcoin…Let’s face it, it was a ridiculous move since the beginning of the year. If you weren’t in it then, you were probably just watching it go up and kicking yourself for not getting in. That’s just not healthy, psychologically. If you want to focus solely on cryptos, you could do that without buying one coin. There are actually some stocks out there that are cryptocurrency plays…and you can bank off of those.
While the world was watching bitcoin, some stock traders were making money off of “crypto” stocks. In the first week of December, I was able to pick the TOP 3 winners, traders in my room and members were able to follow me into these stocks real-time. I was so stoked some of these traders were able to crush it too.
Check out these bitcoin stock trades
Check out the updates I was giving to my members. Cryptos have been crushing it, and I didn’t want to chase this bitcoin move, even if there was huge growth potential. In my opinion, there’s a lot of risk if you were buying at those levels. However, with some of these bitcoin stock plays, you’re able to clearly define your entries, exits and target profit, just as I did.
Riot Blockchain trade
Again, I’m out here giving these plays to my subscribers and students:
I was watching this play in Riot Blockchain (RIOT), when all eyes were on bitcoin and some of your friends probably opened up a cryptocurrency account to buy some cryptos…Don’t get me wrong though, I was also watching the move in Bitcoin because it was trading similar to BTCUSD.
This move RIOT in was my bread-and-butter trade. All the stars were aligned, and I love getting into these plays when a stock has a +50% or -50% move. I’m looking to use Fibonacci retracements as a tool to give me an idea of where I should be looking to sell out of my position. I gave another update on the RIOT trade on Friday, December 1. I bought 7K shares at $14.88, and was looking for a move above $16. We all know what happened there, just by looking at the chart.
Marathon Patent Group crypto play
Moving on, here was the play in Marathon Patent Group Inc. (MARA):
It was the same idea in MARA. The stock dropped over 50% so quick, and found some support. I was patient and waited for MARA to catch a bounce, before getting long. I traded my plan, and MARA did nearly everything I expected it would do.
Digital Power cheddar trade
The last play I had was Digital Power (DPW):
Again, I’m giving my subscribers the play-by-play in stocks like this, and the trade worked out so well:
With Bitcoin futures starting to trade now, I think there’s going to be a lot more opportunities in bitcoin-related stocks. I suspect volatility will pick up in Bitcoin. In turn, that’s most likely going to trickle down into these names. I don’t think these trades are done yet, but I’m waiting for these similar setups before going H.A.M in them. The bottom line: you don’t have to buy Bitcoin and drop over $10K per coin to make money. We’re profiting off of the Bitcoin moves, with such a pretty “small” capital outlay, and I’m so pumped that I and my members were able to take part in this sick move:
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