#TwoMonthsOfBear
Updated
Length upcoming bear season will be almost equal to the “gbtc at a discount” timeframe: two months and counting.
Lowest Bitcoin price during this bear season can be calculated with this formula:
(pi x (hdgd))% of ATH (dip percentage)
hdgh = highest daily grayscale discount
Lowest price calculation at the moment ≈$26400.
I think that we will see a ≈22% Grayscale Bitcoin Trust discount in the coming days.
That would mean that the lowest Bitcoin price during the mid June 2021 bottom will be somewhere around ≈$20200.
ycharts.com/companies/GBTC/discount_or_premium_to_nav
We will see Bitcoin do a hard V-reversal after the bottom in mid June 2021.
Lowest Bitcoin price during this bear season can be calculated with this formula:
(pi x (hdgd))% of ATH (dip percentage)
hdgh = highest daily grayscale discount
Lowest price calculation at the moment ≈$26400.
I think that we will see a ≈22% Grayscale Bitcoin Trust discount in the coming days.
That would mean that the lowest Bitcoin price during the mid June 2021 bottom will be somewhere around ≈$20200.
ycharts.com/companies/GBTC/discount_or_premium_to_nav
We will see Bitcoin do a hard V-reversal after the bottom in mid June 2021.
Trade active
Opened a big short. Tomorrow I expect the first aggressive dip (52k).Note
Grayscale discount is getting closer to that 22% number.Note
I'm expecting an accelerated breakdown towards 42k coming Monday.Note
Bitcoin working on a bearish crossover (1D, MA50/MA100).Note
Bitcoin completed the bearish crossover (1D, MA50/MA100).Note
Bitcoin working on a death cross (1D, MA50/MA200).Trade closed: target reached
Hey friends! I closed my short today and will follow up my views and comments in the related idea:
Hope you check that one out!
/salute Shiningforce
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