Bullish option flow was detected in BKKT stock on February 7, 2022.
Bullish Option Flow
Make sure to review this lesson on option flow so that you understand the image above.
Hanover Community Bank Joins Bakkt’s Early Adopter Cryptocurrency Program
On February 1, 2022, Bakkt Holdings, Inc. (NYSE: BKKT), a trusted digital asset platform that enables consumers to buy, sell, send and spend a range of digital assets, announced that Hanover Community Bank will join its early adopter program to connect to Bakkt’s cryptocurrency platform, which will offer Bank customers access to bitcoin and Ethereum through the Bank’s mobile banking app. Bakkt’s flexible platform lowers the barriers to entry, providing a secure, trusted and regulated solution that allows banks and other partners to entrust Bakkt with custody and transaction responsibilities.
Established in 2009, Hanover Bank, with $1.5 billion in total assets, operates seven branches across Long Island and the greater New York metropolitan area. By joining Bakkt’s early adopter program, Hanover Bank is helping its clients reach their personal financial goals.
“We’re seeing the increased momentum of cryptocurrency interest and adoption among a large cross-section of the consumer population. Bakkt’s partners like Hanover Bank are intent on lowering the barrier to entry for their clients to enjoy this new asset class,” said Sheela Zemlin, Chief Revenue Officer, Bakkt. “It’s undeniable that cryptocurrency has catapulted itself to prime time and grown its sphere of influence to include more than early adopters; this is going mainstream. It’s an exciting time for Bakkt to introduce new and innovative options so that anyone can participate in this burgeoning economy.”
“A key strategy at Hanover Bank is to be on the forefront of technology that speaks to superior client service,” said Denise Chardavoyne, COO at Hanover Bank. “As cryptocurrency assets continue to be adopted by mainstream investors, we welcomed the opportunity to partner with Bakkt.”
Hanover Bank joins a growing roster of community banks across the country that are participating in Bakkt’s program. The Bakkt crypto connect solution is anticipated to launch in Q2 2022 and Hanover Bank’s participation is conditioned on the successful integration with the Bank’s core processor.
Bakkt is a trusted digital asset platform that enables consumers to buy, sell, store, and spend digital assets. Bakkt’s platform, now available through the Bakkt App and to partners, amplifies consumer spending and bolsters loyalty programs, adding value for all key stakeholders within the Bakkt payments and digital assets ecosystem.
📺 Bakkt Holdings ($BKKT): BULLISH TODAY! [What’s Next?]
📉 BKKT Stock Technical Analysis
Both the long and short-term trends are negative. It is usually better to avoid buying stocks with negative trends. BKKT is currently trading near the lower end of its 52-week range, which is not a good sign. The S&P500 Index is trading in the upper part of its 52-week range, so BKKT is lagging the market. Volume is considerably higher in the last couple of days, which is what you like to see during a strong movement up.
The technical rating of BKKT is bad and it also does not present a quality setup at the moment. BKKT stock has a Setup Rating of 1 out of 10. Prices have been extended to the upside lately. For a nice entry it is better to wait for a consolidation. Click here to sign up for email alerts on when BKKT stock consolidates and has a Setup Rating of 8 or higher.