Setting a new lower support trend, after a very long run up
It seems the consensus is that we will consolidate here for a few weeks as we reinforce this new support level/trendline.
I am long on GBTC in 2021 and I have added some additional position here. The risk you take is your own obviously. There is quite a bit of media attention on Cryptos - and many more to choose from. The younger investors aren't as attached to Bitcoin as older investors are (think of Facebook vs. Snap Chat). Keep that in mind if you are interested in putting your money on the new hotness.
I am long on GBTC in 2021 and I have added some additional position here. The risk you take is your own obviously. There is quite a bit of media attention on Cryptos - and many more to choose from. The younger investors aren't as attached to Bitcoin as older investors are (think of Facebook vs. Snap Chat). Keep that in mind if you are interested in putting your money on the new hotness.
Comment:
Some minor adjustment. The lower trend line is the current support. The horizontal line establishing the next resistance. So far the downside pressure seems to be easing. I also added arrows where the CCI (Commodity Channel Index) dipped below zero. So far, this has indicated the start of the next leg up - but who's to tell what's next.
