200-500 Moving Channel

Holding the 200 SMA. Looking for at least a pop to the mid-point in the coming few weeks. Double daily close below the recent consolidation is stop i.e. below 0.60. Break of 0.90 on volume could be considered as a trigger.

Trade active

Super tight. Stochastics pulled back without the price budging. Holding the 200. All point to a move.

Note

20 cent trailing stop or 3.60 target on half.

Note

Re-initiating a position here after getting trailed out at 2.20. Looking for it to hold 1.40 on any further downside.

Note

Does it make sense that BCHG is trading at >30% discount to its intrinsic value of 2.20 where BCHUSD is 250? Well yes if Grayscale is a fraud or ponzi scheme. I don't think it is. Maybe I'm wrong. Otherwise, BCHG has significant upside just to get back to its intrinsic value. It traded well above that during the 2021 bubble - which I pointed to as evidence of the said bubble in 2021.

It presents significant opportunity here or anywhere down to 0.95. Should see strong support in the 1.20 to 1.30 range. Just saying.

Note

Remember when: BCHG was intrinsically undervalued. Now it's the opposite. Just saying - again.

gkm

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gkm