{"id":75909,"date":"2024-10-31T08:55:43","date_gmt":"2024-10-31T12:55:43","guid":{"rendered":"https:\/\/blog.t3live.com\/?p=75909"},"modified":"2024-10-31T08:55:43","modified_gmt":"2024-10-31T12:55:43","slug":"scott-redler-bitcoin-80000","status":"publish","type":"post","link":"https:\/\/blog.t3live.com\/2024\/10\/31\/scott-redler-bitcoin-80000\/","title":{"rendered":"The Case for Bitcoin $80,000+"},"content":{"rendered":"

Brought to You By Scott Redler's Power Plays – Get My #1 Idea Every Week.<\/span><\/a><\/b><\/p>\n

We have mostly red arrows around the world as some mega-cap earnings didn't impress.\u00a0META<\/b>\u00a0talked about some elevated costs, and\u00a0MSFT<\/b>\u00a0lowered revenue guidance. We have the September PCE report at 8:30,\u00a0AAPL<\/b>\u00a0and\u00a0AMZN<\/b>\u00a0earnings tonight, and the jobs report on Friday. And of course, Tuesday is Election Day.<\/p>\n

It's important to know your time frame in periods like this. Long term monthly flows are always a good idea.<\/p>\n

If you are active and trade for a living, see if\u00a0SPX<\/b>\u00a05762 holds. Otherwise, it can get choppier to the downside with the 50-day near 5700.<\/p>\n

Now let's dig into some individual names, starting with the topic of today's post:<\/p>\n

Bitcoin<\/strong>: On October 11th, I announced my Bitcoin Turkey Trot theme. And Bitcoin's gone from $62.5K then to $73.6K earlier this week. My favored names for action – IBIT<\/b>,\u00a0CORZ<\/b>,\u00a0WULF<\/b>,\u00a0MSTR<\/b>, and\u00a0MARA<\/b>\u00a0– gave us nice opportunities with various setups. Now we will see if $70-$71k holds for a move to $80K+ through next week.<\/p>\n

AAPL<\/b>: Too much banter around this name for active traders. Investors should just sit back and hold like they've done for years. Today is the print. We'll see if this holds $227 into the event, and if it clears $237 after the print. I have no exposure.<\/p>\n

META\u2019s<\/b>\u00a0morning low is $563ish. I'm glad I took off half the options play into the print as it had a nice move prior. The rest will lose. We'll see if the low is in the first 5-15-30 minutes for sentiment.<\/p>\n

MSFT<\/b>\u00a0was decent, but lowering revenue guidance with a high valuation has it lower. We avoided this. If you trade it, watch the $414-$415 area as active support. Below that is $408ish. We'll see if it makes a low in the first 5-15-30 minutes or if it trends down all day.<\/p>\n

NVDA<\/b>\u00a0seems like the only semi worth trading. This needs to hold $136.81 to stay constructive. Otherwise, it can get trickier.<\/p>\n

LLY<\/b>\u00a0came off the lows and needs time to rebuild. Investors will be fine. There is not much to do as traders. Yesterday's low is $769. See if it goes red to green.<\/p>\n

\"\"<\/a><\/p>\n

Featured: Join Scott Redler's Plays for $99<\/strong><\/h3>\n

Get Scott's #1 idea each week.<\/p>\n

That's 52 weeks for just $99. (not a typo)<\/p>\n

Be on the list for the next idea:<\/p>\n

See why now's the right time to join.<\/a><\/strong><\/span><\/p>\n

*Scott Redler Positions Disclosure as of 2024-10-31 at 8.44.34\u202fAM<\/em><\/p>\n

\"\"<\/p>\n","protected":false},"excerpt":{"rendered":"

Brought to You By Scott Redler’s Power Plays – Get My #1 Idea Every Week. We have mostly red arrows around the world as some mega-cap earnings didn’t impress.\u00a0META\u00a0talked about some elevated costs, and\u00a0MSFT\u00a0lowered revenue guidance. We have the September PCE report at 8:30,\u00a0AAPL\u00a0and\u00a0AMZN\u00a0earnings tonight, and the jobs report on Friday. And of course, Tuesday is Election Day. It’s important to know your time frame in periods like this. Long term monthly flows are always a good idea. If you are active and trade for a living, see if\u00a0SPX\u00a05762 holds. Otherwise, it can get choppier to the downside with the 50-day near 5700. Now let’s dig into some individual names, starting with the topic of today’s post: Bitcoin: On October 11th, I announced my Bitcoin Turkey Trot theme. And Bitcoin’s gone from $62.5K then to $73.6K earlier this week. My favored names for action – IBIT,\u00a0CORZ,\u00a0WULF,\u00a0MSTR, and\u00a0MARA\u00a0– gave us nice opportunities with various setups. Now we will see if $70-$71k holds for a move to $80K+ through next week. AAPL: Too much banter around this name for active traders. Investors should just sit back and hold like they’ve done for years. Today is the print. We’ll see if this holds $227 into the event, and if it clears $237 after the print. I have no exposure. META\u2019s\u00a0morning low is $563ish. I’m glad I took off half the options play into the print as it had a nice move prior. The rest will lose. We’ll see if the low is in the first 5-15-30 minutes for sentiment. MSFT\u00a0was decent, but lowering revenue guidance with a high valuation has it lower. We avoided this. If you trade it, watch the $414-$415 area as active support. Below that is $408ish. We’ll see if it makes a low in the first 5-15-30 minutes or if it trends down all day. NVDA\u00a0seems like the only semi worth trading. This needs to hold $136.81 to stay constructive. Otherwise, it can get trickier. LLY\u00a0came off the lows and needs time to rebuild. Investors will be fine. There is not much to do as traders. Yesterday’s low is $769. See if it goes red to green. Featured: Join Scott Redler’s Plays for $99 Get Scott’s #1 idea each week. That’s 52 weeks for just $99. (not a typo) Be on the list for the next idea: See why now’s the right time to join. *Scott Redler Positions Disclosure as of 2024-10-31 at 8.44.34\u202fAM<\/p>\n","protected":false},"author":4,"featured_media":75075,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[736],"tags":[],"class_list":["post-75909","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-scott-redler-dog-bytes"],"_links":{"self":[{"href":"https:\/\/blog.t3live.com\/wp-json\/wp\/v2\/posts\/75909","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/blog.t3live.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/blog.t3live.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/blog.t3live.com\/wp-json\/wp\/v2\/users\/4"}],"replies":[{"embeddable":true,"href":"https:\/\/blog.t3live.com\/wp-json\/wp\/v2\/comments?post=75909"}],"version-history":[{"count":1,"href":"https:\/\/blog.t3live.com\/wp-json\/wp\/v2\/posts\/75909\/revisions"}],"predecessor-version":[{"id":75911,"href":"https:\/\/blog.t3live.com\/wp-json\/wp\/v2\/posts\/75909\/revisions\/75911"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/blog.t3live.com\/wp-json\/wp\/v2\/media\/75075"}],"wp:attachment":[{"href":"https:\/\/blog.t3live.com\/wp-json\/wp\/v2\/media?parent=75909"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/blog.t3live.com\/wp-json\/wp\/v2\/categories?post=75909"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/blog.t3live.com\/wp-json\/wp\/v2\/tags?post=75909"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}