So I've been spending a lot more time preparing for the week ahead in equities by charting local support and resistance levels. I mainly swing vertical spreads once I confidently identify resistance levels and other strong TA reassurance for a strong move upward (hence call options on ROKU last week). But what about GBTC? Overall I'm bullish for fundamental reasons. I normally don't take fundamentals into account when entering swings, but what we face as a society in regards to the significance of fiat money and money supply cannot be ignored.
So, technically we have a rising support dating back to April 2017 and heavy resistance that started late that year as well.
With major support just under the $8.80 gap around $8.00 I will be looking to add here and keep reserve funds to buy in if that support level breaks.
Ultimately I think we fill the gap at $7.50 and possibly $6.77 (very last support near $6.00) if the major support level breaks and head into a new bullish trend after much consolidation for the next 2-10 years near the end of 2020 into 2021. Once we touch these levels we will never see them ever again. There is no other investment that I am more bullish on. Get a Roth IRA account and load up!
Thanks for reading :)
So, technically we have a rising support dating back to April 2017 and heavy resistance that started late that year as well.
Ultimately I think we fill the gap at $7.50 and possibly $6.77 (very last support near $6.00) if the major support level breaks and head into a new bullish trend after much consolidation for the next 2-10 years near the end of 2020 into 2021. Once we touch these levels we will never see them ever again. There is no other investment that I am more bullish on. Get a Roth IRA account and load up!
Thanks for reading :)