Also worth noting is the fact that RIOT is up another 10% so far today. I’m a big fan of spreading my best when bullish or bearish on a sector or other asset class. E.g.- Instead of betting all on OSTK or GBTC, I prefer to take positions in all 4 (GBTC, OSTK, RIOT & MGI plus whatever other crypto proxies I might come upon that stand out with bullish charts, as long as the bullish case can still be made for Bitcoin.
With a gain potential of 100% (from the yesterday’s wedge breakout) to the 2.45 target on RIOT, for example, it doesn’t take a very large position to make as much or more profits than I would make on a typical trade with lower gain potential so I can sprinkle relatively small amounts amount those crypto trades and create my own little basket or quasi-ETF/fund.

Never “trust” my analysis or anyone else’s, including yours. Have a trading plan before entering a trade (i.e.- what you are going to buy, why you are buying it, what price(s) you plan to buy at, where you plan to book profits & where you plan to stop out if the trade goes against you).
I find it best to stick with my trading plan unless something compelling has changed in the technical outlook for the trade. I’m also a big proponent of those OCO orders, especially for those that don’t have the time or desire to be in front of the computer all day in order to monitor their trades. If you are not sure how those work or what the benefits are, let me know & I will try to find a link to one of my previous explanations on OCO’s.
BTW- So far, /BRR reversed just above that 7754 support & is close to testing that previous reaction high as I type. Not there yet but close. Watching for a convincing break above it to open the door to the next leg higher & if so, OSTK is likely to follow.

Thanks, Randy, it is not easy. If I had a better track record it would be easier to have more conviction in my trades but after some shellshock I am flighty at best. I will settle in and trust your analysis but also get much better at taking profits in the AM evne if I miss out on more. Yesterday alone would have been a profit that took out 10% of my recent losses but I let it ride and it all bit me in the butt. So yeah…

I realize it can be difficult to trade when working, especially if layering (scaling) into a position vs. taking a full position at a single price following a breakout. More so than the charts & price action on OSTK, I believe that the success (or failure) of a swing trade in OSTK, as well as the other proxies above, will hinge largely on whether or not Bitcoin continues to rally.

OSTK effectively hit the first target zone since this post, rallying to & reversing at 8.83 so far following the opening bell today vs. the bottom of that revised target zone at 8.97 (a good example of why I prefer to take profits just shy of the actual resistance level that I expect a reaction, in case the sellers step in early.. although I did not take any profits on OSTK yet).

As such, the next objective long entries or add-ons to GBTC would come on either a pullback to backtest the 7.16 former resistance (now support) level (although you would also want to go long just above that level, in case the buyers step in early) or on a solid break above the 8.97-9.19 support/target zone, ideally after some consolidation below or on it.

Of course, that would be if one was trading OSTK in a vacuum (only looking at the charts of OSTK). I like to watch Bitcoin to confirm or refute an objective looking entries on OSTK or any of the other proxy trades. I took this screenshot of /BRR (Bitcoin futures) before the open today along with the other charts above. I decided there already plenty of charts in that post so I left it out but what I was going to highlight was that /BRR had just rallied into the 8002 target/resistance level where a reaction is likely before the next leg higher with the next buy signal to come on a break above the recent reaction high.

Essentially, the next objective long entry on /BRR (and as such, OSTK) will come on a pullback to that 7754 support level -OR- a solid break above the previous reaction high. I realize that is nearly impossible to track & manage while working a full-time job so maybe just consider scaling into the position over the next several days or so while using an OCO order (one-cancels-the-other) with a stop(s) & sell limit order(s) at your preferred price target(s). That earlier 60m chart is first below, followed by the updated chart with /BRR now approaching the 7754 support with gap support just below, a likely reversal point before the next leg up.