bitwise is a crypto relateed stock , it loks bullish atm, see chart for detail. make sure you jump in the right one or you get rekt. not advise
For the time being, it appears that BITW has bottom at around 35% above the NAV price. The last bottom was at around 23% above the NAV price. Perhaps the next bottom after this could be 45% above the NAV? Could we be seeing a trend here? Could the next top in BITW be when the NAV reaches $40?
I wonder if this will drop down to +23% above the NAV? With the NAV gaining value every day and BITW losing value, we could see it happen! Happy New Year : )
I think it might be...ya know...because the NAV is telling us it's over valued. I noticed something interesting between the NAV and the price of BITW, if you look at the very low of BITW the price is around $20.74. If you then look at the NAV line and where BITW topped out, you notice that the NAV price is $20.33 (ATH). That's a $0.41 difference or almost a 2%...
After the massive selloff yesterday I think more losses are yet to come. Chart pattern is looking like a bearish pennant. :(
Scenario A - Continues to rise to $93.5 where it was rejected previously. If it can break through, it could spike to the next Fibonacci level at about $135, where it would probably be rejected and retrace back to around $100, finding support at the $93.5 level now. Scenario B - There is a correction and it drops back down to the previous level, where it should...
These guys are going places. Be patient as the cobwebs may need to get sorted. Competition in this space is great and has been needed to step -up existing compeditors. Good luck to the team. All the hard work appears to be paying off. All the best to BITW. I'm long. -Cryptmando (this is not trading advise)