WOW! The Crypto Space Has Some MASSIVE Volume This Morning

Good morning, everyone. It is 7:12 a.m. Monday, December 16th. Let's go ahead and pick out some stocks. I just want to mention that there are some crypto things that are moving. There's IBIT. There's other things that have more volume. There's BITO. There's Mera. There's a few others here. So those of you with Moby, you can see some of these things. MSTR, MicroStrategy, that's pretty good. There's IBIT, like we mentioned, they're close to the top actually with $764,000 in volume. Uh, ETHU is a 2x Ethereum ETF, that one's down 3 cents, but anyway, that, that can move. Um, QBTS, um, that one's quantum computing. So what I've seen in volume pre-market over the last couple weeks Is a lot of crypto, a lot of chips, and then quantum computing is coming in. And Tesla's always on the list. TSLL is an ETF for Tesla longs. And so anyway, there's those sorts of things. But I've got the two trades that I have for you today is IBIT and QQQ. So let's jump in. The first one is the IBIT Bitcoin Trust ETF. Now one thing I wanted to point out on Friday. Two and a half million, fifty six eighty seven. Then another million at fifty eight oh one. Then there's fifty seven seventy for half a million, fifty seven sixty for five hundred thousand. I like this chart pattern anyway, even without the prints on it, right? So we've got here's a higher high, higher low, higher high, higher low, higher high now. And this is the pre-market candle. And but we see these prints here: one million, one point two million. This one here was a million. Right? So it could be that they're accumulating, and this is a really good setup there. So let's break this down on the five minute. And if we go and we look at the five minute here, I've expanded the chart here in Moby. So we had gapped up pre-market right at four a.m., and we're retracing a little bit. But this is an R two fifty eight ninety five. So sixty dollars is it's a huge level, and this is a really nice setup here to go long. We've had this pullback bounce off support bullish engulfing here. This is a Kind of like a 3-line strike. That's my favorite sort of entry, and so I don't want to be biased on it. So we'll have a trade on both sides. I'm looking bullish above 59.50. So let's get above this pivot here, and we'll get up to 59.50. We need increasing volume here. If you were trading this earlier without the video, this might be a good entry here at the close of this candle. But anyway, for those of you that will find the next level, 59.50. Uh, target 60, 60.30. So as we, as we scroll down here, we'll get up to the dollar level. So this high here, that's a target, and then 60.30 is another pivot, and then 61, 61.66. Now just be careful here, this is all new territory. This is— so mind your 20, 25, 50-cent levels. $61.66. And if we go higher, we can go up to $63 if that's quite the mover. Anyway, we would be bearish below $58.94, below this. So we make a new low and close below this line, then we've got a trade down to $58.66, $58.50. There's $42 right there, $58.28, and all the way back to this 1 million print, $58.01. And so they could pretty much close this gap here. Here's the pivot down here at 57.50. So we could come back. Now this would be a stepladder down, right, with all of these pivots here and, you know, normal market structure. So that's what you have there for, for, um, IBIT. Let's go ahead and have a look at the QQQs. Now this is a similar sort of thing. Like the IWM has been down and the Q's are up. You know, there's, uh, I guess technology is taking off and this is pretty bullish as well. So we've got the similar thing. We've got these massive prints, 6.2 million here. This is from July and it's still holding, right? It's still support here. And I, I get asked, how long are these prints good for? Well, the answer is they're good until they're not. Which seems a bit cheesy, but the thing is, is if we just blow through those prints, then there's no algos or institutions interested at them in that price level. So we've got these ones, for example, down here, 5 million, 6 million, 4 million. And if you look at the dates, March, April, and August, so we could scroll back. Anyway, I'm getting off topic a little bit. So this is a good setup too. It's got to get a little bit higher than that candle, but it, it's looking good. We're riding the 4 on the daily. So if we look at the 5-minute here on the Q's, it was bullish above 532.50. Oh, it just hit my target. I was mapping this out back here. So 532.50 was, uh, my entry point. So let's go with that. 533, it's the dollar level. Right, 533.36. And so these would be resistances here, 533, um, 76. And then we could trade this level to level, 50-cent or dollar increments, if we're riding this 4 and the 8. If we're above the 4 all the way, you might have slight pullbacks if it's really, really strong, but we could take this all the way up to $536.20. I put that as the high there. There's 2. That's, uh, that's quite a run for the day. So on the downside, if we were to retrace, we're bearish below $531.50. So that would be below here, and then we've got it down to $531.07, and then down to the pivot, $530.33. We'd trade that and maybe fill this gap. Pre-market. So anyway, that's what I have for you today. We have IBIT and QQQ. So, uh, hopefully you like and subscribe, and hopefully you made some money on some of the trade callouts. So watch my other videos. There's another one coming up today as well for our results. We'll see how our day trading is going. And, uh, have a great rest of your day. Happy trading.