Introduction: 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...
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...
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Trading 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...
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 OTC:GBTC -to- BITSTAMP:BTCUSD discount has probably passed its peak, and the market is seeing the progress in court and the clock ticking towards a court decision as a good thing. I'm bullish on OTC:GBTC for the win, with a swift close of the gap once the court's decision issues. "Win" can have many flavors, however, so the gap may not close completely....
Gaps are like magnets for price. GBTC has been working its way to fill the Gap. It is only matter of when this will happen. The market leaves clues? Of course, with all things in the Market, News can change everything.
The inverse head & shoulders looks appealing. That gap is going to fill.
I'm just aiming for a strong rally in this one. I don't have many reasons to explain myself, but the truth is that there are plenty... global crisis, its CEO resigned, multiple bank failures, an increasingly negative open interest in multiple currencies... etc. Don't forget to pay attention to what this graph is inverted. greetings people
What is going on here? GBTC is the GreyScale Bifcoin trust. It exploded up for almost 10% while bitcoin goes sideways to slightly down. What does this mean? It could mean the correction is either over or Almost over. Why and how can this happen? For me this shows that GBTC without a doubt is not bitcoiin and it trades outside the bitcoin market. Let...
Still as expected. NASDAQ:MSTR is a bit of a leveraged play... $BITO (so far) is still working out as the most pure spot play... and $GBTC yeah... there's Grayscale always in the news with the 40-50% sale. LOL Can you stomach the potential risk/reward of GBTC? Are we still using it as an informal technical indicator for coin movement? In my opinion, BITO is...
Roses are red, violets are blue. Bitcoin pumping⛽ but currently being below trendline resistance. I have 2 bullish scenarios in my head how we could get to the target. Blue🔵 or red🔴? We could hit the target in few weeks anyway. Target being projection of the previous range 100%-0%, it's just measured move added to the range high (100% @ 21480). Simple yet...
Please 1st of all smash the boost🚀 button to support my work if you like it! It's absolutely for free. Bitcoin having nice ride up. I will not sell as long as this cyan support zone created by cluster of uptrendlines holds. Check my other stuff in related ideas. Please boost🚀, comment🗣️, follow me✒️, enjoy📺! ⚠️Disclaimer: I'm not financial advisor. This is...
Please 1st of all smash the boost 🚀 button to support my work if you like it! It's absolutely for free. I would expect ₿itcoin to move between the lines inside the rising wedge at least for a while. The wedge upper edge should act as dynamic resistance, while the lower edge should act as dynamic support. Let see how it goes... 🍿 Check my other stuff in...
It seems that bitcoin has found bottom again as expected as long as this candle closes with a BULLISH ENGULFING. Grayscale seems to show exact bitcoin price action movements with no market noise in comparison to unregulated bitcoin charts(Check weekly and monthly). Bullish for now =]
Today you can review the technical analysis idea on a 1M linear scale chart for Grayscale Bitcoin Trust (GBTC). GBTC has been falling significantly and it does not look good for the firm. Though they hold a significant amount of BTC, the discount is close to 50% and climbing resulting in the value of the Bitcoin held under $10,000 in the trust. This is a mega...
(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...