What does GBTC tell us?
Updated
From my perspective it tells us that Bitcoin did not make a significant new ATH in November. Together with the low volume it looks artificial since June.
Note
The old support is now clearly new resistance.Note
Hit the support around 35 a clear close below the support means GTBC will probably go to 28, look at the chart, does this look like a bull market?
Trade active
Still on track with the prediction, getting more and more bearish on Bitcoin, again GBTC shows us the trend much cleaner. I wouldn`t exclude a drop to the 200-w MA the coming months.
Trade active
Target of 28.0 almost reached, from there i expect further decline on the long term, maybe first a pump to 36 before further decline.
Trade closed: target reached
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