I solved a mystery this morning, and I wanted to share my deduction with you.
This has to do specifically with my own SlopeCharts platform, the tastytrade platform, and the symbol BITI. Here is what BITI looks like on tastytrade:
Here is the same chart in SlopeCharts:
Now, the charts look more-or-less the same (as they should) but whereas the inverted H&S bottom was completed in SlopeCharts, it wasn’t even close on tasty. How come?
Dividends.
My own platform adjusts for dividends (which, to me, is almost as important as adjusting for stock splits!) which is why the chart, in my estimation, is a more accurate representation. This was brought to my attention, naturally, since I was wondering why on EARTH my holdings in BITI were getting massacred even though Bitcoin, earlier today, was actually down. That explains it. I’ll be getting a big cash dividend in a week.
As an aside, BTC is indeed fighting back today (the futures are up over 2%), but I have every confidence this silly business will break down. I’m not touching my position.
