We seem to now have a near-term limit on our upward trend in place. The current behavior seems more included to move down to 42 vs. moving above 47. May be time to scale back some here.
Trade at your own risk.
GBTC PREMIUM IS GREATEST WHEN BTC PRICE IS RIPPING AND GBTC PREMIUM IS LOWEST WHEN BTC PRICE IS TANKING. GBTC TAKES THE SENTIMENT SHIFTS IN EUPHORIA AND DESPAIR AND EXACERBATES THEM, AS IT REPRESENTS A LESS SOPHISTICATED SECTION OF THE MARKET WITH LESS INVESTMENT RESOURCES. IF ONE BUYS ON A BTC PRICE DIP WHERE THE GBTC PREMIUM TO NET ASSET VALUE CLOSE TO 30%, THE...
Currently you get a discount on bitcoin with GBTC:
But this is a warning signal and not a buy signal. It only shows that GBTC and Bitcoin is currently not very popular and buyers are searched...
Waiting for a decline of the bitcoin, GBTC could be interesting to be invested in 32$-34$, if support...
We will undoubtedly rebound strong from the current correction as we did in the past. When we do, keep an eye on an area of resistance at around $54. If we are unable to confirm that level as support, we will likely see another leg down.
I've learned from the past that I can't time the market and so am not a seller on the first leg down. My approach is to buy...
Actually trading Bitcoin is for me a little bit too dangerous. It all looks for me could be a "top" and we see further lows.
We will see maybe today, where the direction goes. maybe we see a double top for longer ride down.
0. Take 20 minutes to short this today at $48.95 as an opening position;
1. Risk Review? We call nonsense. We got approved, but almost missed it. Only 100% Margin on GTBC, and lots to borrow, so what's the problem?
2. For every $1 GBTC goes up, will add to the short, and as it goes down, same thing;
3. Not sure where we will cover yet;
Bitcoin on all other charts break previous all time high, but GBTC didn´t, which isn´t that weird, if you remember my last GBTC analysis:
I still do think, that GBTC won´t break previous high at 48,6 right now, we should be currently in some sort of downtrend cycle and next...
I'm sure many investors got shaken out in January. Hindsight is always 20/20 of course. But it is pretty clear at this point that we need to trade what is in front of us rather than trying to guess what tomorrow will bring.
Reposting publically the idea I created privately (without realizing it)
1st position taken @ $37, second position to be taken 1/21 as GBTC hits a 50% buy zone. Looking to trade this with a test of $48. Potential to hold longer term pending bitcoin behavior testing recent highs. Will cut losses at a breach of 50% level.
Comment: losses to be cut at...