Chart of the Week – BITO

by | Apr 26, 2023

This week’s chart looks a bit like a choppy mess. But when I start looking a little deeper I noticed a repeatable pattern that I call an “echo”

Now the theory goes that when we see a pullback or extension that almost matches a prior move (because although echos are similar they aren’t the same) we can expect a similar following move.

This leads me to expect a move up to around 18.50 on BITO in the relative short term. 

And if we look at the pattern on a little bigger timeframe, we see a potential move up to the $21 area on BITO into the late June timeframe.

I am already long BITO in my Crypto Power Plays alert service. To learn more about it, check out my Trade of the Decade presentation.

Have a great week!


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