GBTC versus BTCUSD (Bitcoin)(1) 🔬 Dividing the GBTC price by the BTCUSD price, we have this chart in a downtrend.
This indicates that GBTC has underperformed Bitcoin.
🟢 The price spent most of the time in the green rectangle, threatening to break out several times.
In March 2021, GBTC broke out of this rectangle.
🟣 Projecting this rectangle downwards, in a new purple rectangle, we have a possible target, which culminates exactly in Fibonacci prediction 2.
Price is currently in the middle of the rectangle, testing the 1.516 forecast.
🐂 For a bullish reversal to materialize, price needs to break out of the exponential 55-period Bollinger Bands' bear channel:
(2) 🆚 Bitcoin's MarketCap vs GBTC's MarketCap
📈 MarketCap of Bitcoin:
📈 MarketCap of GBTC:
🧮 If we divide the GBTC marketcap by the Bitcoin marketcap, we have a percentage of 1.95%.
🤔 Question: In the worst case scenario, if GBTC and Genesis go bankrupt, and if Grayscale sells all the Bitcoins it claims to have, what would be the impact on the price of Bitcoin?
(3) 📈 GBTC price
On the diagonal Fibonacci channel, the price touched the -0.5 retracement.
❓ Question 1: On the vertical Fibonacci retracement, will price test the 0.618 retracement at $7.06, stretching wave 5?
❓ Question 2: Or will the price go even deeper, hitting the 0.5 retracement at $3.68?
🐻❄️ If this happens, the DMI SMI oscillator could indicate a key moment rarely reached (see green circles).
Grayscale
GBTC Grayscale Bitcoin Downward SupportI am providing four support areas for Grayscale Bitcoin Trust (GBTC) in the event that BTC starts to drop significantly.
S4 meets the long term bottom trendline, which has the strongest support. I added in VPVR to show volume clusters.
What are your opinions on this? Comment below, hit the like and follow me. Thank you!
Check out more below for recent Altcoin, Bitcoin and Stock Ideas.
Disclosure: This is just my opinion and not any type of financial advice. I enjoy charting and discussing technical analysis . Don't trade based on my advice. Do your own research! #cryptopickk #bitcoin #altcoins
Last time GBTC hit this trendline was 3k and March 2020 BottomWhen it touched this trendline it rose by 400% the first time and 1000% the next. It also rose VERY fast. Pivitol point which could mark the bottom in BTC. Send it.
Livepeer Trust by Grayscale, Bottom nearby LPT GLIVshould have a chance for a couple good months eventually.
Maybe late 2022 or early in 2023. The NAV is currently above $8 but the trust spot is at 50% discount when trading under $4
LTCN vs. LTCIf you believe in LTC, LTCN might be for you. It's currently exposing LTC to you at a discount of ~42%. Let's assume the discount vanishes and LTC reaches old or even new highs. Here's where LTC is going. It's a multiplier on LTCN gains.
The lowest graph is the relation between LTCN and LTC - each share of LTCN represents a small amount of LTC. At a ratio of 1 the price would be fair. Over 1 we see a premium on LTCN, under 1 we see a discount.
The Multiples are the projected price in relation to the price at this idea's creation. LTCN was around $3, LTC around $55. As you can see, LTCN would give you a far higher percentage than LTC itself. Assuming the discount goes away.
ETH: At least 1 crypto is on recovery!Ethereum
Intraday - We look to Buy at 1731 (stop at 1679)
We are trading at oversold extremes. We look to buy dips. 1700 has been pivotal. 1711 has been pivotal. 1731 has been pivotal. Support is located at 1700 and should stem dips to this area.
Our profit targets will be 1858 and 1898
Resistance: 1900 / 2000 / 2100
Support: 1800 / 1700 / 1500
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GRAYSCALE LITECOIN +35% premium Grayscale litecoin (LTCN) has over a +35% premium discount.
it broke below 9. all time high was $485. anything under 10 to me is a huge buy zone/deal. setting up for a possible great bullish run through first quarter and into the new year. we also have dollar dipage (dollar dip/crypto rip) hopefully running with bitcoin esp if it can make its new all time highs!
pirates load the boat! its time to pillage!
stay awesome - Justin Bridges
BTC Prices To Watch Coming MonthsMajor events
There are two major events that will happen the coming months:
1. The merge of Ethereum from proof of work to proof of stake will happen in Q2 (if not delayed again). Then many coins will be unlocked and will cause probably a supply shock. Also a buy the rumour sell the news may happen.
2. The SEC is expected to reach a decision on Grayscale's Bitcoin spot ETF by July 6. Will this event be a pump or dump event?
ZCSH Zcash Grayscale Trust - OTC Market Redemption Arc GBTC ETHE
Zcash Idealism:
In November of 2016, journalist Morgen Peck showed up at her friend Molly Webster's apartment in Brooklyn, told her to take her battery out of her phone, and began to tell her about The Ceremony, a moment last fall when a group of, well, let's just call them wizards, came together in an undisclosed location to launch a new currency.
It's an undertaking that involves some of the most elaborate security and cryptography ever done (so we've been told).
And math. Lots of math. It was all going great until, in the middle of it, something started to behave a little...strangely.
LTCN Grayscale Litecoin Trust: Another Pump Coming?Hello friends, today you can review the technical analysis idea on a 4H linear scale chart for Grayscale Litecoin Trust (LTCN).
It seems that based on historical trends, when the RSI is near the overbought region, the price pumps. Could that happen again?
If you enjoy my ideas, feel free to like it and drop in a comment. I love reading your comments below.
Disclosure: This is just my opinion and not any type of financial advice. I enjoy charting and discussing technical analysis . Don't trade based on my advice. Do your own research! #cryptopickk
🔻 ETC FALLING DOWN TO THE HELL🔻Hello investors and traders.
briefly open a short position if the daily candle closes below the EMA.
Disclaimer: this is not a piece of financial advice always do your own research.
ETHE Grayscale Eth: 1D Chart ReviewHello friends, today you can review the technical analysis idea on a 1D linear scale chart for Grayscale Ethereum Trust (ETHE).
The chart is self-explanatory. Price has been moving in a Descending Parallel Channel. It broke down from a Multi-month support line now resistance and may go back up for a re-test. The RSI also looks like it may be going back down to re-test the S/R line. A Death Cross may be a possibility coming up.
Included in the chart: Trend line, Support and Resistance Lines, RSI, Descending Parallel Channel, Death Cross, Simple Moving Average, Volume, Bull Trap, Volume Profile Visible Range (VPVR).
If you enjoy my ideas, feel free to like it and drop in a comment. I love reading your comments below.
I have additional charts below on cryptocurrencies, stocks and more to review. Check them out!
Disclosure: This is just my opinion and not any type of financial advice. I enjoy charting and discussing technical analysis . Don't trade based on my advice. Do your own research! #cryptopickk
Ethereum looks ready to move, will Grayscale move as well?So everyone is scared, just like the last time this big buyer came in.
Some one sees a low RSI and dramatic drop and they buy and then sell at 90% profit.
Now that SQQQ has had its run up (finally) some tech can bubble back up in small select areas. If an announcement about the progress of Ethereum 2.0 comes out then this thing will move. People are saying Eth 2.0 will never be released but usually that is a week or a month before a big announcement is comes out. They say trade what you know and i have been trading ETHE for 2 years and I have noticed that it marches to the beat of its own drummer, sure real Ethereum has its influence on the price of Grayscale ETHE but it more wild than ETH.
Yes, technology stocks will continue to fall as people see the companies have no earnings, but Ethereum does have earnings! I mean have you paid those gas fees? That is money in the bank for Ethereum, if you had a constant stream of income and you put that into research and development... like the development of Ethereum 2.0 ... you might upgrade the network.
People think Ethereum is too energy intensive but Ethereum 2.0 promises to fix that which might draw market share from Bitcoin. (see Eth dominance chart link below). I think people will sell BTC for ETH when ETH 2.0 comes out.
ETH ETHE Grayscale Ethereum Trust WeeklyETH ETHE Grayscale Ethereum Trust Weekly
Long idea with time for dollar cost averaging in to the buy zone on ETHE.
looking at FIBO retrace levels to hold on ETH at 3k - would translate to support at $22 for ETHE and a possible long term positive buying opportunity.
as always with caution and good luck! please like and comment
STX entry 1.8 to 2.06 through 4.Stacks ($STX) is a layer 2 (or as described by Stacks as a Layer 1.5) smart contract protocol that lives on the Bitcoin blockchain. Via Stacks DeFI and other utility/protocols including City Coins (currently being minted by New York City and Miami and soon Austin and others), while other DeFi platforms built for Bitcoin live on other layer 1's (i.e. Badger on Ethereum), a smart contract protocol on top of the most secure blockchain may or should not only assist in avoiding a "flippenning" but is critical at a time where multi/cross/para chains are the current solutions to avoid bouncing protocol to protocol.
Additionally Stacks was both the first cryptocurrency to be acknowledged by the SEC as a security and also to be no longer recognized as a security by the SEC after successful adoptions. DYOR, Grayscale and partners have significant involvement in Stacks and was instrumental in the SEC approvals. This is pure gut but my gut says Grayscale will be the first BTC ETF approved by the SEC due to familiarity, etc.
Fractals show a similar pattern having already taken place, expect a full push or a pullback and then push to and through $4. Naturally as tied to Bitcoin, BTC volatility could slow or speed up the growth of STX, but smart contracts on the Bitcoin blockchain is powerful and not discussed nearly as much as one would expect.
The stacking opportunities and ecosystem being built around Stacks i.e. City Coins (read NY and Miami Mayoral comments on plans) make this a long term hold for those who want, as blockchain continues to proliferate real world applications beyond just crypto.
SOL is outperforming🐋🌊
Solana is a smart contract blockchain (FTX's byproduct,) made to compete with ETH.
Grayscale is taking an interest in SOL and has launched a Grayscale Solana trust.
This means that Solana is now one of the 16 investments Grayscale has their hands in.
Expect to see new highs. 🆗
Bear targets listed as well.
🛑🛑🛑🛑🛑This is not financial advice🛑🛑🛑🛑🛑 I always recommend looking at multiple charts when making a big investment
Always have a stop loss ✋🛑💲 set
Any thoughts 💭💡, questions 🙋♀️🙋♂️❓, good 👍, bad👎, happy 😄 or sad 😥, in the comments always welcome.
Thank you so much
Jazerbay ☯
GBTC and ETHE - What Will Monday Look Like?Hello friends, today you can review the technical analysis on the 1W chart for Grayscale Bitcoin Trust (GBTC) and Grayscale Ethereum Trust (ETHE).
1) Both GBTC and ETHE are heavily invested into the crypto markets through Grayscale.
2) With the crypto market correction, prices of both GBTC and ETHE may fall as well.
3) Both charts show the Fibonacci Retracement from the beginning of the this crypto bull cycle to current prices.
4) Since Bitcoin was down about 20-25%, CryptoPickk assumed a 20% decrease. This may be completely off as GBTC and ETHE has been affected harder when crypto markets are down. It is difficult to catch a falling price so it's pretty to start somewhere and plan based on where it goes.
5) If prices keep falling, keep an eye on the 0.382 fib level as this has been a target where prices start to move back up.
It's not the time to get completely negative on the markets, but it is a time to start thinking about what to do next. Be cautious.
What are your opinions on this?
If you enjoy my ideas, feel free to like it and drop in a comment. I love reading your comments below.
Disclosure: This is just my opinion and not any type of financial advice. I enjoy charting and discussing technical analysis. Don't trade based on my advice. Do your own research! #cryptopickk
Zcash Grayscale Trust is about to explodemicro - inverted head and shoulders base
macro - cup and handle
neckline is 19-19.50
clean breakout into the 20s will trigger a rally
$HZEN is about to fly. The chart speaks for itself.This is the most beautiful chart I've seen in a while.
One trick to trading the Grayscale products is the move in these products always lags behind the spot market by a day to a few days. So once you start seeing an asset move, look to the charts in Grayscale to see if the move will follow.
$ZEN has started to move already and this chart looks like the bull run is just beginning. I'm looking to enter around $9.52. Once it's over that $18 resistance, the sky is the limit.
Key dates and price levels on the chart. Let's see what happens from here.
SOL BreakoutSolana has just started to breakout on the lower timeframe. I expect it to continue because of the announcement of a SOL ETF
Solona ETF announcement
Moon Shot Odds, Zcash ATH $900 for Christmasits only possible if Bitcoin reverses out of a multi-year bear market.
macro conditions also threaten to instantly invalidate this situation
the big catalyst will be success of Halo Arc upgrade, and the mainstreaming of the value of Zero Knowledge recursive proofing as a mechanism to provide a scalable, privacy by default, work based crypto network
BAT BTC Sun Rays Megastructure same as ETH at $220 in 2020 (22x)Background FA: BAT announced Fundamental Partnership with Solana and launched own DEX in Brave Browser (100m monthly users), making it a direct contender for Uniswap, $UNI (which has 3 million users and market cap 10x bigger than $BAT).
Background TA: BATBTC Pair broke out of Long-Term Downtrend with highest ever volumes, sending the BATUSD pair into ATH and Price Discovery .
Sun Rays Megastructure for BAT BTC is extremely similar to a similar megastructure that appeared with ETH USD pair in June 2020, when ETH was 220 USD. ETH went on to make a 22x run upwards after that.
Two interesting TP levels to watch marked.
Goldsworth. Org Technical Analysis ideas brought you $DOGE at 14 Sats , $LUNA at 10 cents, $SOL at 3 dollars.
Bitcoin (BTC) • Not looking bullish as you may thinkGet some popcorn and watch my subjective interpretation on why current price action is not looking good at all despite the ongoing mark up.
Some talking points include:
• Volumes
• Monthly and Quarterly Charts
• Orderbooks and order clusters
• Grayscale Premiums
• BAKKT and CME Futures basis premiums
• Options Put/Call open interest distribution and expectation
• Funding Rates, Open Interest and Liquidations
