About 80% of the investments in the trust, which now manages $38.5 billion, is from institutional investors, Grayscale disclosed at the end of last year’s third quarter.
***COT data is showing Longs of (5 Bitcoins) 2,335 & shorts at 7,144.
The discounted shares in the trust suggest that institutional investors are rushing to sell shares in the trust, perhaps preferring to invest their Bitcoin in vehicles that undercut Grayscale’s 2% management fee and avoid its brutal redemption schedule.
Grayscale Now Owns More Than 3% of Total 21 Million Bitcoins That Will Ever Exist...
The weekly Stochastic is up at it's high.
The alt coins smoothed Oscillator is running only slightly above BTC.
However the Total market cap has had 3 nice peaks up and now the momentum sideway showing a 3rd down wave on the oscillator.
Then we have the Grayscale ocean of divergence.
Grayscale chart (no drawings)
In the absence of a Bitcoin ETF in the USA, Grayscale’s trust remains one of the only ways to invest in Bitcoin through a regulated investment product. “Prices would rise for sure someday,” speculated trader Kushagra Singh in an interview with Decrypt.
See the related ideas below for more of the technical analysis on BTC.
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On your last chart, ATR means Average True Range? Kinda scratching my head what this means 🤔 Thanks!
Mayfair_Ventures
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@moonshot, Haha, OK so yes it's an Average True Range - which shows the "Average" move/pip count for the period selected. So usually people use this for stop-loss techniques. the idea is if assume you look at a 1hour candle and you place a stop loss, say of 20 pips - If the ATR shows 37 on the 1hour timeframe - then it could easily take out your stop. There' formulas and techniques involved but that's kind of the basic use. As it shows the volatility on the BTC chart I think you are referring to, it shows lack of interest at the higher prices as the ATR is diping. I hope that helps.
jazerbay
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I really enjoy the grayscale ocean picture😅🤩. Thank you for this analysis🔥💕
Mayfair_Ventures
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@jazerbay, Thanks, was trying to highlight the divergence in the price of BTC & the fund. All a bit of fun. Enjoy the rest of the weekend!
jazerbay
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@Mayfair_Ventures, yes I got that its great! keep it up thanks, enjoy yours, happy Easter🐰😄
This last chart where you have a corrective move with wave E missing is totally different from the ones you were showing before, where on the weekly wave 4 BTC was still finishing the B wave up. How is this related to the one before? Also a weekly 4? This would be very shallow, already following a very shallow weekly wave 2....
Mayfair_Ventures
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@pascma, yes it's a smaller wave - I was looking at the monthly, weekly, dropped down to the daily. As they are waves in waves - so it's the fractal view. Now its less about the levels (original post) is still what I want to see. But these are extra confirmations of the move coming down. The channel here was made using Schiff pitchforks and running in parallel. Which is also very different to the regression. In summary, weekly will come down (this daily will create the next move B to C on the weekly) I haven't overlapped them yet. I was looking mainly at confluences. Then from C weekly will push up again to D (I hope) then down to E to complete the weekly 4. That then will go up and make a new high - giving us a 5 weekly (that will be 3 monthly) and then down from there 4 monthly (messy again and even slower) and then up to 5 monthly which could see us up and into next year.
@pascma, No problem, just sent you a DM with some screens. Just not overlapped them in public view. 👌 The count should be from X, but was trying to look ahead at 4 as a whole. So it's fitting in nice just one count over.