-TOP author on TradingView -15+ years experience in markets -Professional chart break downs -Supply/Demand Zones -TD9 counts / combo review -Key S/R levels -No junk on my charts -Frequent updates -Covering FX/crypto/US stocks -24/7 uptime so constant updates
GBTC D1: PATH TO 100%+ gains // Bottoming pattern(NEW) IMPORTANT NOTE: speculative setup. do your own due dill. use STOP LOSS. don't overleverage. Tagged as SHORT because I expect more short-term losses now before reversal later (Q4 2020).
🔸 Summary and potential trade setup ::: GBTC 1day/candle chart review/outlook ::: tagged SHORT because it's BEARISH short-term ::: GBTC is close proxy for Bitcoin price ::: chart looks like bottoming pattern ::: in progress. Not IHS / but very close ::: speculative setup. requires confirmation ::: Short-term more losses likely ::: 15-25% downside remains next few weeks ::: no major catalysts for reversal short-term ::: going forward US Election Day may trigger ::: reaction in QQQ/SPY and boost GBTC price as well ::: recommended strategy: BUY LOW later // SWING TRADE ::: This downside in GBTC translates to BTCUSD ::: Cycle low point near 8200-8600 USD ::: SWING traders in BTC should wait for cycle low ::: before buying to BUY/HOLD ::: good luck traders! 🔸 Supply/Demand Zones ::: N/A ::: N/A 🔸 Other noteworthy technicals/fundies ::: TD9/Combo update: N/A ::: Sentiment mid-term: BEARS/CORRECTION ::: Sentiment outlook short-term: BEARS