Watchlist: 12/29 Bitcoin’s Inflection Point & A Bull Flag

Market Notes:

Omicron is raging across the country setting news cases totals even in highly vaccinated areas. However, this time the hospitalization and death rates are coming in much lower.

This trend is putting wind in the sails of the bulls. As long as everything stays the same markets should continue to rise.

Bitcoin is at an apparent inflection point. It’s holding up near its 200-day moving average, but its recent rally failed. The next move is anyone’s guess.

Bitcoin v USD, 1-day candles – via BarChart

With the markets bullish my favorite trade right now is XXII which I established a position in near $3. It’s forming a bull flag which I believe has an excellent chance of breaking higher.

XXII 1-day candles – Chart via thinkorswim

All seasonal and technical indicators are pointing bullish. I remain bullish and risk on.

Watchlist:

*Low Float

*MBOT is on watch
*SINO has support at $4.20
*PIXY has support at $2
DNUT has support at $17
XXII has support at $3
BORR & NAKD are reverse splits I’m keeping an eye on

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