WGMI CoinShares Bitcoin Mining ETF

$WGMI $WULF $CIFR A lot of comments observe that various names in the sector appear to move together in relative lockstep. They definitely do, almost all of them. That’s why I watch WGMI, a sector ETF. It essentially averages the moves in the sector, filters out single-stock noise, and shows where the whole group is in its cycle. On this macro structure overlay, I copied the trend lines from the first wave and pasted them onto the second. They matched almost perfectly: 45 trading days up, then 113 trading days down, then 45 trading days up, and hopefully only 113 trading days down. If history repeats, we’ll see chop until after the election, then hopefully the start of a new bull run. That would also align with the historical fact that the 9 months following a midterm election are the strongest stretch of the four-year presidential cycle. Hopefully history repeats! 🤞

$WGMI WGMI is within a large weekly window of risk which is why we are seeing the selloff we are seeing in related names. Week before Halloween is expected target period for the bottom but that can be +/- 1 week. So within the next 4 weeks we are going to see a nice buy-the-dip opportunity on the data center names especially $IREN and $CIFR. Maybe $MARA as well. $NBIS is really the only one that has held structure so far so I don't expect a deeper cut to evolve. We shall see.

Watch $WGMI for entry again if it can pullback to ~$44 at this long-term trendline again. Top holdings $CIFR $NBIS $HUT $KEEL etc.

Looking for a bullish reversal off this key horizontal level on $WGMI for a reclaim of the $40 level in the near future...

$WGMI at this rate, if the large caps/tech that have been carrying market pull back even a little, I could see the 2025 low undercutting. Maybe $25 on this ETF

$WGMI look at the five-year chart this could drop so much more had to get out with a 25% loss. Democrats have been using data centers as a leverage to help win. This will drop more guarantee it.