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GBTC

Another case showing BTC post is irrelevant as Derivatives dictaDaily CRYPTOCAP:BTC shorts are non existent at the moment. Short term, the #BTC downtrend is still intact. There's a tiny symmetrical triangle formed. (direction broken will dictate the push) Volume is paltry. As if there is a wait for something. $ Money Flow & RSI not showing much. ---------------------------------- Weekly Chart $ Flow better vs Spot #Bitcoin. So much spot was sold yet it held, why? What have we been saying for years?!?!?! Spot doesn't matter, DERIVATIVES Dictate!!!!!!!
INDEX:BTCUSD
by ROYAL_OAK_INC
$BITO Ready to Run?AMEX:BITO Kathy Woods AMEX:ARKW fund sold OTC:GBTC and bought $92mm AMEX:BITO yesterday. They also sold $COIN. There is the news. I am more of a technical trader, and I like the set-up on BITO here. I have started a one third size position in the anticipation of a break above the small consolidation area or pennant. My stop is tight, just below today’s low of day. I like the fact that it is trading above the IPO AVWAP which means that by volume most shareholders are in the money. That means there is little overhead resistance at this point. It is also trading above all the moving averages. Ideas, not investing / trading advice. Comments always welcome. Thanks for looking.
AMEX:BITOLong
by jaxdog
5
Will Bitcoin Tag 44k Before More Selling Ensues?Just wanted to give you all a quick summary of where I stand regarding the recent Bitcoin price movement. In short, I believe that Bitcoin could possibly still tag 44k before the sellers come back again to take us back down to 37-39k. This is where I start to make my re-entries once again, DCA'ing it as we fall. Plus, we'll start by looking at the DXY and SPY and I'll show you what is going on there and what that tells us about how crypto will move.
INDEX:BTCUSD
by stewdamus
Going Long Bitcoin HereTraders, As expected, Bitcoin has now arrived down at my $39,877 level. This is a target that I have set for the beginning of my DCA entries. I think we could come further down to my channel support areas and I will add more here if that occurs. But, if we break those supports, I will exit and look for lower entry points because, at that point, I would expect a re-visit of $31,600. I am mainly playing a quick pump and retest of the $44,500 level where I will take profits and reanalyze the charts should we get there. I have also given an update on my recent altcoin entries but unfortunately, this information is not available here on Tradingview.
INDEX:BTCUSDLong
by stewdamus
Grayscale Gravestone DojiThe price has started its descent off a Gravestone Doji. Selling pressure expected to last into the spring. This is either a good place to look for short entries, or a good chart to watch to buy into GBTC at a discount. RSI suggests GBTC has just began its descent. The ideal place the PA looks to land after the dust settles is around the .618 fib retracement level which coincides with a major support and the convergence of the 50, 100 and 200 simple moving averages. Comment and Boost if you enjoy the content! NFA, do your own DD
AMEX:GBTCShort
by BallsOfSteel32
$GBTC Analysis After Spot Bitcoin ETF Launch- GBTC has been actively traded before the spot Bitcoin ETF approval - GBTC opened slightly higher today with much more trading volume - High trading volume = $36.8 million, much higher than the average $7.3 million trading volume over the past 30 days - GBTC is currently at a strong resistance target, which is concerning that the ETF approved as the price is approaching a key resistance level - The 1-week RSI is also extremely overbought and needs a correction
AMEX:GBTC
by realchartchamp
2
LTCN Litecoin Grayscale Trust LTCN is about ready to pop. The inverse head and shoulders measured move would bring it to around $10 then a small correction before a massive rally to $35 and beyond, all depending on what Litecoin does. I believe Litecoin will be thousands of dollars in the next bull run as its is one of the very few that are not securities and are commodities. If that happens and Litecoin goes parabolic to 2 3 4 $5000 dollars then the Litecoin Trust will explode. There could be a massive premium at that point to making one share of the trust cost $7000 or more. 1000x-2000x totally possible. Litecoin is poised for a massive rally I believe. Its going to outperform every single other crypto out there this next real run. Besides maybe your random dog coin that could go up 100000000% but as soon as someone cashes out $5 the price drops by 60%. But for real I think this is a good play. This is definitely not financial advice, this is just what I think and my opinion. Do your own research and so what is best for you. Thank you.
OTC:LTCNLong
by Bitgolder
14
#GBTC - Grayscale -9.7% to Net asset ValueWhere is Barry Silbert? :) Anyway Grayscale #Bitcoin trust is a few months away from achieving equal valuation to it's holdings of #BTC What does it mean ? Mainly its a sentiment indicator this cycle, but it still holds a vast quantity of coins so we will see if all these #ETF's get approved. Big players can get exposure to discounted BTC still! ( plus the yearly fund fee) When the discount goes away and the low cost ETF's get approved that buy pressure is likely to shift to those vehicles instead.
GLong
by BallaJi
$MARA - Bull or Bear?NASDAQ:MARA I like the stock and currently hold. I personally feel one more high to $28-$33 (Could extend past this). Then potentially fall to sub $3. The new lows present an opportunity for big money to buy miners whilst exceptionally low in value. The current fair value price for NASDAQ:MARA is $9.59. Anything below this is deep value in my opinion. Whilst I know institutions are accumulating at record levels, the exchange traded volume is dropping off. Based on Elliot Wave, I am optimistic we are currently in a Wave 4 with the Wave 5 low expected to be in the region of $1.80 - $2.20. Although Miners Revenue is at a near record high, Miners have a tenancy to fall before a BTC halving and then reach new highs following the halving. ETF approval is expected soon - It may give Institutions time to manipulate BTC and ETH prices before the halving or send the miners on a parabolic course with 'new money' entering the crypto market. For clarity the blue vertical lines represent the BTC halving points. NASDAQ:MARA did not run on it's July 2016 halving as this appears to be a 'new entry' pattern. On the third BTC halving, it ran to new highs within months of the May 2020 BTC halving. This also backs up my theory we will see lower lows, before new highs, ahead of the next BTC halving (exp April 2024). I hope I am wrong with lows coming given I will not be selling, but a wave 5 move down would form a primary inverse head and shoulders and would be an ideal area to load up on stock and long term options! God speed! **This is not financial advice**
NASDAQ:MARA
by Bradtheinvestor
3
Greyscale appears to be breaking out from cup & handle patternFresh off the heels of their victory against the SEC, it seems as though it is now very likely this breakout will be confirmed on this cup and handle pattern on the 1 day chart on the GBTC greyscale chart. We can see priceaction has already retested the rimline as solid support before the current big green impulse candle. Also a very nice bullish impulse on the volume candle as well for bullish confluence. *not financial advice*
G
by DrDovetail
Mastering the Bitcoin Boom: Diverse Investment PathsIn this idea, we will explore different ways to amplify gains in a Bitcoin Bul. We will look at potential advanced tactics to capture further returns. My assumption is that Bitcoin is already in a bull market; however, the concepts I will talk about here will be valuable regardless of when the bull market begins. Bitcoin will most likely outperform most crypto assets due to the regulatory uncertainty and the potential upcoming ETF, so we don't think it's worth holding most altcoins out there. Yet there are some exciting ways to bet on Bitcoin indirectly to try to capture further upside, including altcoins. To do that, we will first look at specific key parameters that can serve as clues as to what we should be looking for in the assets we want to bet on: A) The beneficiaries of ordinals and the usage of the Bitcoin BlockChain, B) Coins/Tokens with a lot of BTC on their Balance sheet, C) Companies with BTC on their Balance sheet, D) Platforms that give access to BTC trading, E) Companies waiting for their BTC to be returned. F) Those that will benefit from an ETF. 1) Bitcoin miners. If the Bitcoin blockchain sees high usage, fees will go up, and miners will profit massively. As BTC rallies, more and more people will want to use Ordinals and Inscriptions and look for new ways to use Bitcoin. Miners also have BTC on their balance sheets, so their value will appreciate even further. WGMI is an attractive ETF that someone could buy as a bet on Bitcoin Miners, which looks pretty bullish after a massive collapse in 2022. Most alt-layer 1 protocols are dead and aren't coming back. Currently, there aren't many Bitcoin Layer 2 protocols. The only ones are Stacks and Rootstock (STX and RIF), both looking decent vs BTC. b) Tezos, Lisk, and Eos have a ton of BTC on their balance sheet. Based on my calculations, their market caps are smaller than the value of the BTC they hold. If their teams decide to return some of that BTC to holders, the prices of those projects will skyrocket. All these projects that are in development for 5+ years but haven't gained any reactions. They are looking quite bearish, yet the lower their ratios vs BTC go, the more attractive they are as a speculative buy, as they could easily double or triple in value. c) Microstrategy's Market Cap is worth the same as all the BTC on its balance sheet. It's currently at a 500m loss from the purchases and has a ton of debt; however, if BTC rallies and Microstategy finds ways to build on Bitcoin, its stock price has no ceiling. It's like a leveraged Bitcoin play with no risk of being liquidated. d) Coinbase has seen its competition rekt. Bittrex gone. Binance US is out. Gemini is suffering and can't truly compete with Coinbase. Coinbase plans to expand abroad and even launch its Ethereum Layer 2 protocol. Most FUD around regulations has already been priced in, and any positive news will disproportionately affect the price. As the exchange will be used as the custody solution for Blackrock's ETF, it will directly benefit from the ETF, despite potentially fewer people trading Bitcoin on it. ARKK holds most of the stock's supply and is unlikely to sell soon. e) LEO - This is Bitfinex's exchange token. If and when the US gov will return to Bitfinex the BTC it got from the Bitfinex hack back in 2016, that BTC will be used to buy back LEO tokens. When the FBI caught the hackers in 2022, LEOBTC jumped 85% on the assumption that the coins would be given back. I believe that, eventually, these coins will be returned and that LEOBTC will trade near or even above its ATHs. From here, that means a 100% gain or more. f) GBTC - As mentioned several times in my previous ideas, I believe an ETF will be approved, or something else will occur that will close the current GBTC discount. GBTC is a Bitcoin Trust trading at a 35-40% discount to NAV. That means that if that GBTC starts trading to its actual NAV, it will go up 70-80% from here relative to Bitcoin.
INDEX:BTCUSDLong
by BitcoinMacro
Predicting Crypto's Journey Amid LawsuitsBefore anyone reads this idea, I'd recommend reading my previous two ideas about Coinbase and Grayscale. Definitely worth the read to get a better grasp of the current situation. The main ideas I will analyze are that the SEC suing Coinbase and Binance are the final things that had to happen before a Bitcoin ETF would be approved and that the SEC could lose some of its court battles against crypto companies. Then I will close with some solid technical and fundamental analysis of the current price action. Wall Street Interests and the SEC's Anti-Crypto Native Firms Stance The SEC seems to be trapped, as it has too many court cases open and won't be able to win all of them. It's currently struggling against Coinbase and its demands for clear regulations and, in its case against Grayscale too, which seems to be doing well in court. Against Grayscale and Coinbase, the SEC's cases are very weak. It's clear that the SEC was just stalling everything and damaging the US industry in the short to medium term so that the TradFi guys could take control. Now they've reached their limit, as the industry is coming together and attacking it en mass. The political pressure against the SEC has been mounting, which is why Blackrock has filed for its Bitcoin ETF. It's no coincidence that TradFi firms are coming out after the recent lawsuits and talking about how they want to get involved. The CFTC approved futures related products for Coinbase and the Cboe, confirming that other major players might want to be engaged at a higher level. Essentially it's not the SEC being anti-crypto; it's just the SEC being anti-crypto native firms and wanting to pave the way for Wall Street. Securities, Market Manipulation, and the Complexities of SEC Approval What's been super clear is that BTC isn't a commodity; however, for an ETF to be approved, the SEC had to deal with all shady exchanges and practices in the US. It would be impossible for them not to have dealt with Binance before approving an ETF. To me, it's clear that many of the services Coinbase and Binance are offering are securities, and it's also been clear that Binance has done many shady things in the past. The main issues for the SEC to approve an ETF would be that these exchanges would be trading securities along with Bitcoin, and market manipulation or an FTX-like collapse would create many issues. What is positive for Coinbase and Binance, though, despite my opinion about what is a security and what is not, is that the SEC approved of Coinbase's business model before it went public and that to this day, it still doesn't offer clear guidance for crypto firms. Anticipated SEC Lawsuits and the Impact on Coinbase and Binance Something significant to note is that nothing that has happened with Coinbase and Binance wasn't expected. We've had so much news about the SEC potentially suing both that it was almost priced in. Alts clearly got shocked, and they might feel even more pain if the SEC wins against Ripple, as some will probably be deemed securities. Yet beyond that, I don't think the SEC will get everything it wants. It has failed so spectacularly that the US judges won't be able to give it all it wants. It might have some wins, but overall, there is no way that it can damage the US industry too much. Of course, it can deal substantial damage; however, even if the SEC itself can't, the big players behind Blackrocks ETF might find other ways to shake out the weak hands before taking the market higher. The Dawn of a New Era: A Turning Point in Crypto Regulations It appears that we've reached a turning point in crypto regulations. It's unlikely that regulations could get any worse from here, which is a positive sign for the market. We're currently facing an environment with almost no significant regulatory risks, only potential regulatory upsides. The crypto market has demonstrated incredible resilience, adapting and evolving in ways that make it less susceptible to regulatory hindrances. The SEC is under increasing pressure to clarify its stance on crypto regulations, while other countries are stepping up and providing more precise guidelines, attracting a growing number of crypto businesses. This trend fosters the expansion of exchanges outside the US and the development of more favorable regulations for the crypto space. In my opinion, we will have regulatory clarity in the US by the end of the year. An Outlook on the Crypto Market: Positive and Negative Factors Some positives are 1. China is pumping liquidity into its economy, and as Hong Kong has just opened its doors to crypto, some of that liquidity will flow into crypto, 2. Celsius might convert alts into BTC and ETH (directing liquidity to these two), 3. Voyager distributing cash to creditors (some will go back into crypto), 4. FTX 2.0 is in the cards, which means that 2B USD could come back to the market, along with several altcoins that could be converted into BTC & ETH (FTX & Alameda don't have much BTC or ETH). Some potential negatives are 1. Mt.Gox, Bitfinex & US Gov distributing/selling their BTC, 2. Bankrupt companies selling their coins/tokens, 3. Gemini/DCG going bankrupt and forced to be liquidated, 4. More lawsuits and losing court battles, 5. Stock market collapse. Uncertain Stock Market Conditions and Crypto Performance Number 5 is something I would like to clarify here, as stocks may have topped. Nothing is certain, but we need to be aware of the situation. Yesterday we had a Triple Witching (a term used in the stock market to describe the simultaneous expiration of three different types of derivative contracts, namely stock options, stock index futures, and stock index options, all on the same trading day. This happens four times a year, on the third Friday of March, June, September, and December.), and we will have a three-day weekend. This is the perfect setting for a top, especially as SPX has hit SPX hit 4450 and my BBs with STD 3 upper band, Nasdaq swept its Q1 2022 highs, and Russell 3000 the breakdown zone, while all are extremely overbought. Yields keep going higher, as Oil, Natural Gas, Wheat, Corn, etc. show strength, which could push rates and the dollar higher, and therefore risk assets could have a dip. Finally, based on some sentiment-related data, we could be close to an extreme point in stock prices. In my opinion, this is not the time to take excessive risks but the time to take profits on stocks. That doesn't mean crypto will collapse, as crypto has been underperforming for months and usually moves along with stocks. Therefore, if it were to simply catch up with tech stocks, 33k would be an easy target. The best way to express bullishness in the long term is to bet on BTC, ETH, GBTC, and COIN, and I would avoid any other coins for now. Technical Analysis GBTC had a massive collapse, its discount was near 50% (relative to BTC), and it rallied to fill a major gap. Filled the gap, had a correction, retested the breakout zone, bottomed there, and is now going up. If someone buys GBTC here, they will make 75% extra on their trade when that discount closes relative to how much they would have made by simply holding BTC. BITO was down 25%. Partially filled an FVG on a gap down and bottomed there. It has several gaps to fill higher, but only a few lower. The gaps higher are pretty important, as some of them are double/triple gaps (gaps within gaps), making them more critical. BTC and ETH on CME have some important gaps higher that could be acting like magnets, but both are at resistance now. BTC is at the horizontal and Fibonacci pivot resistance combo, while ETH is testing its critical breakdown zone. Overall, Bitcoin has some double/triple tops higher or FVGs, which is liquidity ready to be tapped. However, that holds for levels lower too. The most important levels right now are 27500, 30000, 33000, 35300, and 37500 to the upside and 22600, 21000, 18500, 14000, and 12500 to the downside. Bitcoin seems to have formed the perfect bottom after it formed two double bottoms, one at 25800 and one at 25350, both of which got broken slowly, and the final leg down hit the 25200 breakout zone. It actually fell below 25000, which was a round number, and trapped shorts, which thought the break below 25000 would be very bearish. Finally, it also seems to be within a massive falling wedge, but it's unclear which direction it will take. There is a potential trap in either direction, so I wouldn't want to read too much into it. My view is that someone should respect all the levels I have mentioned and potentially take profits or place entries for short to medium-term trades on them.
Editors' picks
COINBASE:BTCUSDLong
by BitcoinMacro
15
ETF's in the cryptocurrency sector vs Bitcoin📉This graph shows the average price of the main ETF's in the cryptocurrency sector, and their correlation with Bitcoin. 🟢These are the ETF's aggregated here: PROSHARES BITCOIN STRATEGY ETF GRAYSCALE BITCOIN TRUST (BTC) GRAYSCALE ETHEREUM TRUST (ETH) AMPLIFY TRANSFORMATIONAL DATA SHARING ETF (BLOK) BITWISE 10 CRYPTO INDEX FUND (BITW) GLOBAL X BLOCKCHAIN ETF (BKCH) GRAYSCALE LITECOIN TRUST (LTCN) VANECK UCITS ETFS PLC CRYPTO AND BLOCKCHAIN INNOVATORS UCITS (DAPP) BITWISE CRYPTO INDUSTRY INNOVATORS ETF (BITQ) GRAYSCALE DIGITAL LARGE CAP FUND LLC (GDLC) I would love to, but I don't think the price is going to go straight up to the moon🚀👎❌. The banks will make it as difficult as possible (can you imagine if everyone got rich quick and easy without having to be a slave?), and they will manipulate the market to enter at the lowest possible price. Funny, that they insisted and spread FUD one after another, that Binance should prove that it owns the customers' balance. They tried to knock her down with this narrative, but they couldn't. But what about banks, do they do that? Could it be that if everyone shows up at bank doors asking to withdraw their paper money, won't the army show up with a bunch of war tanks to protect half a dozen tycoons? I'm looking forward to the next narrative.
AMEX:BITOShort
by andre_007
5
Revisit Grayscale Zcash Trust Privacy Crypto Scarce Supply ZECWe appear to be experiencing the late-stage of Grayscale Solvency FUD, Anti-Barry Silbert FUD, and peak macro-doomer saturation If true then the trend could reverse and give opportunity for 100-400% upside. Take a Look at the performance of Grayscale ETCG from its 2018-2019 lows to highs that occured mid-cycle, pre-bull run (More than 500-600% gained) Grayscale® Zcash Trust (ZEC) (ZCSH) Digital Assets OTCQX US TradeSet AlertAdd to Watchlist $1.895 Today's Change $0.205(+12.13%) Bid/Size $1.85/160 Ask/Size $1.94/628 Today's Volume 4.9KAbove Avg. Today's Range $1.69$1.95 52 Week Range $1.50$17.30 Today's Open $1.69 Previous Close $1.69 Quote as of 10:51 AM ET, 01/09/2023
OTC:ZCSHLong
by noam_chom
1
GBTC Skyrockets as Grayscale Wins Over SEC for Bitcoin ETFIntroduction: Exciting news has hit the cryptocurrency market as Grayscale Investments, the renowned digital asset management firm, has successfully won over the Securities and Exchange Commission (SEC) for a Bitcoin exchange-traded fund (ETF). This groundbreaking development has sent shockwaves through the industry, and traders now find themselves at the cusp of a golden opportunity. This article will explore how GBTC will skyrocket and why it's time to consider a long position on this incredible asset. a. First-Mover Advantage: As the first Bitcoin ETF approved by the SEC, GBTC enjoys a significant advantage over potential competitors. This head start ensures that GBTC will attract a substantial portion of the market, potentially leading to exponential growth in its value. b. Increased Institutional Adoption: Grayscale's success in securing SEC approval paves the way for increased institutional adoption of Bitcoin. With more institutional investors pouring funds into GBTC, the demand for this asset is set to skyrocket, driving its value even higher. c. Bitcoin's Bull Run Continues: With the increasing acceptance of Bitcoin as a legitimate asset class, its value has been on a steady upward trajectory. By investing in GBTC, traders can leverage Bitcoin's ongoing bull run to maximize their profits. Call-to-Action: Long GBTC and Ride the Bitcoin ETF Wave! As the cryptocurrency market enters a new era with Grayscale's SEC-approved Bitcoin ETF, the opportunity to long GBTC has never been more enticing. Don't miss out on this golden opportunity to capitalize on the potential gains offered by GBTC's imminent surge. Seize the moment, open your trading accounts, and position yourself to ride the Bitcoin ETF wave with GBTC! Disclaimer: Trading involves risk, and conducting thorough research and consulting with financial advisors is essential before making investment decisions. Note: This article is intended for informational purposes only and should not be construed as financial advice.
GLong
by bryandowningqln
Long Trade in GBTC (Bitcoin)GBTC is an exchange traded fund that tracks the movement of Bitcoin. It trades like a stock, so GBTC can be bought in any traditional brokerage account or IRA. You could also buy Bitcoin directly. Personally, I don’t trust a lot of the crypto brokers these days, so this feels like a safer option to me. But the results will be similar either way. Bitcoin has been a top performer in 2023. The digital currency is up 146% since the start of the year. What is attracting me to it now, however, is how well the price is holding up in weaker market conditions. After the big run up in June, GBTC found support near 19.40 (white horizontal line I drew on the chart). Two weeks ago this level was breached, but look at how quickly it bounced back up? This tennis ball action is what I want to see. Volume is also mimicking price – another clue that often identifies stocks being accumulated by large institutions. Notice how volume rises with the stock and then decreases on the retracements. This is textbook pre-breakout activity. I took a 10% position in GBTC in my personal account this week at just under $20 per share. If it breaks below $18.30, I will likely get out. This represents an 8% risk on the trade.
GLong
by rossgivens
1
MicroStrategy Coiled: Are Bitcoin Bulls Ready for $35,000 in AugMicroStrategy Incorporated provides enterprise analytics software and services in the United States, Canada, Europe, the Middle East, Africa, and internationally. It offers MicroStrategy, an enterprise analytics software platform that enables users to create visualizations, customize apps, and embed analytics directly into workflows; and MicroStrategy Cloud Environment, a managed software-as-a-service solution, which offers always-on threat monitoring and enables rapid analytics development and deployment to deliver security and data privacy requirements. The company also provides MicroStrategy Support that helps customers to achieve their system availability
NASDAQ:MSTRLong
by noam_chom
The Great Train RobberyTrading is a game of poker. - Capitalism is a dirty business. - Like war? - Not exactly. It has important rules one must follow. A game about money is a cold blooded game. One player must deceive the other to win, the so called bluff. Fear is a weapon of war. The house always wins. ... and many more which I don't know. The best bull traps are set when FOMO psychology is established. The best bear traps are set when FEAR psychology is established. These are just some of the methods the game works. I have talked about how QQQ is inside a probable bubble. One that took shape in 2020. As it turns out, Bitcoin is in no different place... Again, in a bubble that took shape in 2020. A structural shift took place at that particular date. We went from decades of QE to a new period of QT. Progressively higher yield rates change the way we invest long-term. Now, price increases are harder than before. Derivatives came to play to mitigate the effects of yield rate increases. The effect of these derivatives is very uncertain. I will attempt to explain one of the many points of view. Many believe that only now institutions are investing into crypto. The BitcoinPrice-to-BitcoinTrust ratio shown before tells a different story. A game about money is a cold blooded game. From a fundamental growth we have gone to an easy-growth. One player must deceive the other to win, the so called bluff. It is as if there is no safe haven for investors. Only the house wins? FOMO is at an all-time-high in Gold, Crude Oil and Crypto. FEAR is at an all-time-high in Equities. If we ignore the fear mongering, we conclude that equities are only now just beginning to grow. Fear is a weapon of war. @The_Unwind explained it very clearly. SPX may in fact be in the beginning of a new era. It is KST that is helping me make all of these conclusions, and I thank him for that. The following period is characterized of significantly diminished growth after many large drawdowns. If that equity growth is bearish in relative terms, how fast is a bullish growth? Crypto proved as an experiment of how fast gains can get. If derivatives were tested in crypto, what could that mean for future equity growth? Are equity derivatives deactivated and have not yet shown their true effect? The house holds the keys to profits. The house always wins. Tread lightly, for this is hollow ground. -Father Grigori
INDEX:BTCUSD
by akikostas
7
Pullback Buy in GBTC (Bitcoin ETF)Bitcoin had a painful 2022. But the digital currency turned bullish this year and is now marching higher. GBTC is an exchange traded fund that holds Bitcoin but trades like a stock. So regular investors can get exposure to crypto without the hassle of digital wallets or sketchy cryptocurrency brokers. The stock is currently wedging on decreased volume. This is the same pattern it showed back in February before a quick 50% surge higher. Volume is telling the story here again. High volume moves higher show accumulation while lower volume retracements indicate and absence of buyers. A buy was triggered on the move above 16.50. This pullback is giving trades a second chance to enter with the recent breakout area and 21-day EMA serving as support. My stop loss would be at 14.95 to risk just under 10% on the trade.
GLong
by rossgivens
1