First Binance, Now Coinbase; Opportunity Knocks in BTC (BITO)?

Mike Paulenoff By

Good Tuesday Morning, MPTraders!  June 6, 2023-- Pre-Market Update: First Binance, Now COINBASE: Opportunity Knocks in BTC (BITO)?

If the technicals matter, then COIN points to the low 30's at a minimum, and possibly MUCH LOWER.

However, in terms of Bitcoin, the technical setup argues that bad news on Binance and Coinbase is creating a buying opportunity in BTC and BITO. If such is the case, then I am watching the 24,000 to 24,500 target zone in BTC, and the 13.20 to 12.00 target zone in BITO for signs of downside exhaustion followed by an upside reversal signal that indicates a new upleg is in progress (see charts below)... 

ES next...

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