.... breaking above this resistance will lead btc towards 42k and if it failed to break than get ready fot new low.
This is a basic example of the decay in GBTC vs Bitcoin and why you should never hold ANY Grayscale crypto products in your portfolio *long term*. GBTC is the Bitcoin investment trust that Grayscale offers to get exposure to Bitcoin. Based on Friday's close of 27.68, it's trading as if BTC is around $16,700 per coin - half its value. Keep this in mind if you...
Bitcoin is gaining mass adoption. Besides El Salvador, other countries are sure to follow, moving further and further away from the inflationary USD dollar that is causing turbulent economic swings in many emerging markets. It is also important to pay attention to Bitcoin's little brother, Ethereum, which is about to release its London Update. If the London Update...
Don't let the permabears mess you up, it's still looking great, load up now where the fear is at the March 2020 lows and November 2018 3k lows. Clap with me! Fear this extreme doesn't happen near tops!!!
I'll open this saying that always wait for confirmation. Now, all I can see in this chart are bullish signs. The ADX is above 40 points stating the end of a trend. The MACD is making the bullish cross while in good divergence with the price action for the last month. Last week OTC:GBTC made a bullish candlestick pattern called "the island reversal", is when two...
Not that there aren't already 10m Bitcoin charts on TradingView... This type of corrective draw down after a completed motive move is not in the least bit uncommon. It is entirely possible we correct down to 34,000-35,000, given the larger motive move that started in 2020. We haven't even tested the 200dma yet. At lest Mr Mannering should avoid panicking until we...
I don't know what it is about gaps but I love them. I love to see gaps get filled, nothing gets me more excited. I have drawn lines through gaps within the white box (the rally since the covid crash). BTC is going to crumble and these gaps will all fill. That means we are seeing BTC sub $10K. I think it will bounce off this yellow trend line or wicks below it....
Currently, GBTC is cheaper than BTC. Historically GTC*1k/BTC ratio has always been above 1. This is not the case anymore.
I am not a purist. I think averages are made to be broken. More important to me is a recovery above key supports, with volume. We have 50% fib correction now, completing an abc Elliott wave formation. And we are testing and bouncing off the 200dma, with volume. This is a pretty textbook correction. Now, assuming we are not on the wrong side of some co-ordinated...
BTC about to pop higher after 3 months of sleeping
The PI Cycle Top has nailed the top in $BTC TO THE VERY DAY! Even the creator of this indicator doesn't believe 100% that the top is really in which is a great contrarian sign. Coupled with a now very strong downturn in the weekly MACD which has historically preceded major downturns / bear markets. Let's also consider the following: - Massively bullish...
Just as the title says... Up to you...
i think we will hit that 21 MA in may. 43\45 k in first week of may. will it bounce, in the past it has but of course we had no futures
The price of KRAKEN:XBTUSD its being forming the volatility contraction pattern (VCP) while above the 50 day moving average, good sign. The price has been trying to breakout above 62k, if that happens I think I´ll add to my position in OTC:GBTC , which is also forming the same pattern. The bad thing is that the last 3 trading days the price closed below the...
GBTC announced that it will change its current trust structure into an ETF (as soon as gvmt approval is granted) that will carry far lower mgmt fees than currently. GBTC has been trading at an 8-12% discount to NAV and this gap will close significantly to prevent an arbitrage between the price of the Grayscale BTC ETF and the spot price of BTC.
The GBTC premium is now a discount. Which is creating a lot of uncertainty to its future. What I'd like to remind readers is each time a wave of large unlockings hit, not only does bitcoin's spot price rise, but the share price of the Trust gains in value with respect to its underlying holdings (NAV). If we ignore the fact it's at a discount then the likelihood...