GreyScale BitCoin Trust (GBTC)
Updated
I have never has any interest in Bitcoin nor its derivatives. I like the technology but believe we are still in its early days.
That is not to say however I don't follow it.
One equity way to position a Bitcoin view is with GreyScale Bitcoin Trust.
So currently on a weekly basis there there are two current bullish harmonic Patterns in play ... A Gartley and a Black Swan.
Additionally there is also evidence of a bullish Wolfe Wave in play which I have marked with a time and a target.
Our final inspection shows an upsloping Andrews Pitchfork which is also has been marked.
IMHO this technical analysis evidence suggests we have formed or in the process of forming a significant bottom.
That said, I will watch an comment on its progress. BTC may have one final push down to the $23,000 so my game plan is to enter an established GTBC rally just under the $23 level with a stop at approximately
THE $17 level.My target is around the $34 level.
If it works out that's good..
This is educational investment advice. Do your own due diligence and respect market trends and conditions which as any student of the crypto space can change rapidly .
See you in September.
S.
Note
here is the daily.. the lower fork level is approx. 18.24 today
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