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$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
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
$GBTC MARKET BREAKDOWN Grayscale Bitcoin Trust Market Breakdown Week of June 16th Been a while since I've updated my chart on this Since then made a few plays on my TD ameritrade account, bought along this accumulation zone at 10.82, sold at 12.1 (June 2) Bought 10.15, sold 10.82 (June 15) So obviously now if you read my recent posts, I am currently not in any positions and looking for entry now. Price gapped up today along with the futures of the stock market, $DJI & $SPX, I really don't think this price is sustainable and going to keep rising This would be the weirdest reversal i've ever seen, this entire market actually right now is just like wtf So cheap entry would be 11.02 along the topside of the accumulation zone, but i'd wait until 10.82 hits or even just the confirmation of a trend reversal I am not long and do not care about missing out on a few %'s, this is not normal market activity. Premiums on Grayscale on the Bitcoin Trust are at 515% and the Ethereum Trust is over 2000% premium Waiting on clear indication of trend reversal, and going to continue playing this chart in between the topside and downside of these trendlines until it either squeezes higher or lower. As always please do your own research, I am not a financial advisor.
G
by kyer
2
GBTC - Confirming BTC Bullish Reversal IncomingGBTC confirming BTC chart bullish reversal coming soon. RSI is low, almost at 30 where it always pops shortly thereafter. Fisher Transform ready to flip, same as BTC chart. Filter Dots show bearish trend is exhausted and ready to flip bullish, same as BTC chart. Gaps Only down gap to fill (red box) is cut off by log support line which has over 20 points of contact. Either we hold log support or go roughly 30% below support to close the gap. I feel this is highly unlikely, especially pre-halving. All yellow boxes are up gaps to fill, implying we go up from here. Price Price is chillin on flat support of wedge. Additional angled support/resistance combo line adds to support. Cup and handle is rough here, not mathematically precise with handle at .618. But still fits the wedge, price, and pattern. Thank you for liking, commenting, throwing up a chart, following, or viewing. I am not a financial advisor. My comments and reviews are based on what I do with my personal accounts. Disclosure - I am long MARA, GBTC, BTCUSD, GDX, VIXY. Short SPY and AAPL.
GLong
by MoneyPatterns
BTC - Bitcoin Loading Zone - $7900 to $8600 OR December 1stBased on my technical analysis we are in a loading zone until December 1st or price crosses Gaussian Channel midline. I consider anywhere from $7900 to $8600 an excellent long entry point. If RSI goes to anywhere around 30 on the Daily, this is a excellent buy point given our current price. The farther price gets away from Gaussian Channel midline, the stronger it whips back to center (and typically crosses). Around Oct 20 price went above upper channel boundary, indicating turn to bullish. We are seeing the retest of the center line before price crosses the midine. If we look at the larger patter on the Daily, we are still in a Bull Flag or Pennant formation. Everything is pointing to a bullish reversal here. :) Thank you for liking, commenting, throwing up a chart, following, or viewing. I am not a financial advisor. My comments and reviews are based on what I do with my personal accounts. Disclosure - Long - MARA, GBTC, BTCUSD, GDX, VIXY . Short - AAPL and SPY. I will have some other short entries (Shorting or Put Options) I will be posting this week coming up for the Holidays. :)
COINBASE:BTCUSDLong
by MoneyPatterns
1
BTC - Like Groundhog Day waiting for Buy Zone From the "Same Chart Different Day" Series I've been posting. RSI stability from past charts holding from 11/8 until present (11/13 today). Despite lack of volume and sideways price movement, we see stability in price and RSI. To me, this indicates a turn or bigger move coming. BTC only trades sideways for long. Either whales are propping this up for a dump (pre-halving this doesn't make sense) or whales are re-accumulating between $7900 and $9100. Crypto Fear and Greed Index is 38 (Fear / Low) - alternative.me Thank you for liking, commenting, throwing up a chart, following, or viewing. I am not a financial advisor. My comments and reviews are based on what I do with my personal accounts. Disclosure - I am long MARA, GBTC, BTCUSD, GDX, VIXY.
COINBASE:BTCUSDLong
by MoneyPatterns
Bullish Guassian Channel - 1HR, 4HR, and coming to DailyAll lower time frames are BULLISH. Medium time frames are all BULLISH. Only Daily needs Gaussian Channel to turn green for confirmation of continued uptrend. Close above $9586 looks to be outside Daily channel, causing Gaussian Channel to turn green (BULLISH). If we get a full candle open and close above $9586 in next few days, we are setup for daily and weekly bullish trend. :) Thank you for liking, commenting, throwing up a chart, following, or viewing. I am not a financial advisor. My comments and reviews are based on what I do with my personal accounts. Disclosure - I am long MARA, GBTC, BTCUSD, GDX, VIXY and short SPY.
BITSTAMP:BTCUSDLong
by MoneyPatterns
1HR Bullish - 4HR Turning BullishEverything lining up to be Bullish on 1HR and 4HR charts. Bullish EMA Cross, bullish Wycoff Trend, and Bullish RSI divergence on 1HR. This should carry to the 4HR chart, and thus to the Daily. Weekly and monthly trend is BULLISH. If we close around today's highs, we may get a bullish hammer which should continue the uptrend. Thank you for liking, commenting, throwing up a chart, following, or viewing. I am not a financial advisor. My comments and reviews are based on what I do with my personal accounts. Disclosure - I am long MARA, GBTC, BTCUSD, GDX, VIXY and short SPY.
BITSTAMP:BTCUSDLong
by MoneyPatterns
1HR - Bullish OverallThere is a SMALL possibility of bearish reversal if price closes below red dash line (8PM EST new daily candle). I DO NOT EXPECT BEARISH REVERSAL. Since Weekly view is bullish and indicators on 1HR chart are bullish, or just turned bullish, the LONGER TERM BULLISH TREND IS INTACT. Based on Gaussian Channel and price exactly hitting the bottom channel, I feel this is the fakeout before going to 10K possibly. If price closes above the $9400 mark (previous day high), bullish trend on Daily is intact. With weekly trend just turning bullish, I expect at least 2 more positive weeks despite any daily contractions. Hours do not matter as much as days....just like pennies do not matter as much as dollars. - ME While the short term trend dictates possible reversals or continuation of the trend, the MAIN trend should be the MAIN driver of your decision (not a 5MIN chart).
BITSTAMP:BTCUSDLong
by MoneyPatterns
1
Bull Flag Breakout on 1HR - Goin UP!!!All signs on 1HR chart point to completion of the Bull Flag pattern on 1HR chart. Completion of this 1HR pattern should see us get past 10K to prime this rocket engine for liftoff to 20K pre-halving. Price above EMA ribbon is positive. While bull flag completes and is above EMA ribbon, pressure build and then we get a big move. Anytime Gaussian Channel and EMA ribbon have price cross through from below, and price remains above, bullish move is imminent.
BITSTAMP:BTCUSDLong
by MoneyPatterns
3