Grayscale Bitcoin Trust Market Breakdown Week of June 16th
As always please do your own research, I am not a financial advisor.
- Been a while since I've updated my chart on this
- Since then made a few plays on my TD ameritrade account, bought along this accumulation zone at 10.82, sold at 12.1 (June 2)
- Bought 10.15, sold 10.82 (June 15)
- So obviously now if you read my recent posts, I am currently not in any positions and looking for entry now.
- Price gapped up today along with the futures of the stock market, $DJI & $SPX, I really don't think this price is sustainable and going to keep rising
- This would be the weirdest reversal i've ever seen, this entire market actually right now is just like wtf
- So cheap entry would be 11.02 along the topside of the accumulation zone, but i'd wait until 10.82 hits or even just the confirmation of a trend reversal
- I am not long and do not care about missing out on a few %'s, this is not normal market activity.
- Premiums on Grayscale on the Bitcoin Trust are at 515% and the Ethereum Trust is over 2000% premium
- Waiting on clear indication of trend reversal, and going to continue playing this chart in between the topside and downside of these trendlines until it either squeezes higher or lower.
As always please do your own research, I am not a financial advisor.