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Greyscalebitcointrust

Greyscale appears to be breaking out from cup & handle patternFresh off the heels of their victory against the SEC, it seems as though it is now very likely this breakout will be confirmed on this cup and handle pattern on the 1 day chart on the GBTC greyscale chart. We can see priceaction has already retested the rimline as solid support before the current big green impulse candle. Also a very nice bullish impulse on the volume candle as well for bullish confluence. *not financial advice*
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by DrDovetail
Grayscale Bitcoin Trust to $10The above weekly chart has been printing rising wedge patterns since early 2021 resulting in lower high and after lower high. Is this trend about to change? Maybe but not yet.. On the above weekly chart: 1) Price action breaks out of a rising wedge as it has done three times before. 2) Price action prints a weekly gravestone DOJI candle. 3) RSI support has failed and confirmed resistance. Is it possible price action continues to rise higher? Sure. Is it probable? No. Ww PS: A correction in Grayscale stock does not equal a correction in Bitcoin price action. This is something else. Don’t know what exactly but the charts are not mirroring each other as before with the previous wedges.
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by without_worries
8
Greyscale GBTC - After 1 Year (Update)Today you can review the technical analysis idea on a 1M linear scale chart for Grayscale Bitcoin Trust (GBTC). GBTC has been falling significantly and it does not look good for the firm. Though they hold a significant amount of BTC, the discount is close to 50% and climbing resulting in the value of the Bitcoin held under $10,000 in the trust. This is a mega concern! My first warning on GBTC was on NOVEMBER 16, 2021 when the price was near $50. It has lost close to 85% of the value since my warning. Now I am concerned that the price will continue to go lower, possibly even back down to under $2 where it was trading in 2017. There is a possible support near $5 but if that breaks, it will be really concerning. Be careful! If you enjoy my ideas, feel free to like it and drop in a comment. I love reading your comments below. Disclosure: This is just my opinion and not any type of financial advice. I enjoy charting and discussing technical analysis. Don't trade based on my advice. Do your own research! #millionaireeconomics
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by MillionaireEconomics
6