Crypto is on a bull run right now.
And we don’t need to buy tokens to capitalize.
I don’t care if you love crypto or hate it… Our job is to take advantage of bullish momentum in the market.
I’m watching 1 stock for continued crypto momentum.
No… I’m not buying Bitcoin.
In this market, you don’t have to buy crypto to ride the momentum for gains. There are plenty of stocks that benefit from a crypto bull run.
And one stock looks better than the rest.
Millionaire trader Bryce Tuohey alerted this setup before I found it. Which means we came to the same conclusion separately.
Two top traders, and we’re both pointing at the same stock…
The Crypto Rally
Look at the recent strength from Bitcoin (BTC):
In late June, the price bottomed out at $57,800. Then spent most of the summer consolidating sideways, stuck between roughly $62,000 and $66,000.
By mid-August, that changed.
Bitcoin ripped from around $64,000 to $80,000 in a matter of days, on the heaviest buying volume we’ve seen since early June.
From there, it built another base between $76,000 and $82,000 for about a month.
Then came the bad news…
On September 15, the Senate blocked the Clarity Act, the bill meant to finally spell out how crypto gets regulated in the U.S. It failed 49-50, 11 votes short of the 60 needed to move forward.
You can see the dip on the chart. Bitcoin slipped to around $75,000, the bottom of its recent consolidation.
But it didn’t break. Instead, it pushed higher.
Bitcoin blew through $82,000 and hit $87,396, more than 50% above its June lows. And that old $82,000 ceiling could become the new floor.
Why the strength? Because crypto regulation is far from over…
Two days after the vote, the SEC opened a temporary route for trading certain tokenized stocks, a step toward round-the-clock markets. And the CFTC sent its own crypto rulemaking proposal to the White House.
The rules are getting written, with or without Congress.
My Top Crypto Stock
Robinhood Markets, Inc. (NASDAQ: HOOD) is one of the easiest ways for everyday traders to ride crypto momentum.
We saw the correlation earlier this year. With Bitcoin in a slump, Robinhood’s crypto revenue fell 38% in the second quarter.
Plus, on July 1, Robinhood launched the public mainnet for Robinhood Chain and rolled out Stock Tokens. Now that the SEC has opened a path for tokenized U.S. stocks to trade on-chain, Robinhood exists right where crypto and the stock market meet.
And its price is approaching YTD highs…
I’m dealing with a bit of a family crisis right now, so I’ll let Bryce run point on this trade. But I’m looking for HOOD to run all week.
Thank you for bearing with me and for any prayers you might send my way.
Here’s the alert Bryce sent to traders on September 22:
“HOOD by far my favorite watch today. Would prefer some sideways action or even a pullback here after this morning spike. I don’t mind going a little out of the money on these, $130 is fairly liquid. I like the chart a lot so I’ll probably go a little out of the money, but if you’re less convicted then the $125 calls are going to protect that premium a little better if we don’t move far from here. 125 – 124 ideal entry spot for me (starting to dip now as I say this). I like 1.2 – 1.7 for the $130 calls (9/25 exp) and 2 – 2.5 for the $125 calls.”
“This is a great way to take advantage of the BTC theme without being directly tied to BTC as well as just an overall very nice daily chart.”
Bitcoin momentum is some of the strongest in the market.
And we don’t need to buy crypto to capitalize.
Stay Street Smart,
Jeff Zananiri
