Bitcoin Investment Trust (GBTC) Could be Nearing the Completion of a Correction
SUMMARY
Bitcoin Investment Trust (GBTC) seems to have placed a much cleaner ABC correction than Bitcoin itself! It was a ZigZag with 5,3,5 subwaves as shown in below chart. The crispness of the correction is quite attractive. The blue impulse motive completed a little earlier than projected and the minor correction seems nearly complete. Eventhough GBTC doesn't trade 24/7; it often does provide "leading" indicatory price and wave signals, ahead of BTC!
Th closeup shows that $13.68 might be a potential target for red wave c of the minor abc. The blue fives show that once wave 5 is completed, the correction could be done and a trend reversal could be expected.
The $13.68 is hitting at the 0.68 Fib level and looks ready to provide an acceptable bottoming zone. What would be interesting is to see GBTC turn up from the 0.68, even if BTC doesn't yet. This is the leading indicatory feature I've seen played out in GBTC.
Legal Disclaimer: I am not a financial advisor nor is any content in this article presented as financial advice. The information provided in this blog post and any other posts that I make and any accompanying material is for informational purposes only. It should not be considered financial or investment advice of any kind. One should consult with a financial or investment professional to determine what may be best for your individual needs. Plain English: This is only my opinion, make of it what you wish. What does this mean? It means it's not advice nor recommendation to either buy or sell anything! It's only meant for use as informative or entertainment purposes.
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doesn't GBTC track BTC price? if btc price falls then it follows?
@HAEJIN - You Should Watch This Video
I didn't make it. I found it searching "Haejin Video" on BING.
I agree, we have buyers orders at $13, also that's where the 200 EMA on the daily chart will meet price, which should serve as support too.
Very nice post. It's useful for all steemit user
The big dog!!!
Yapping like a yorkshire terrier!
Write a post of your own instead of fouling on others work!!!
Go fuck yourself dipshit
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@HAEJIN - You Should Watch This Video
I didn't make it. I found it searching "Haejin Video" on BING.
Is that the most inteligent answer you brain was capable of coming up with.
Explains your retarded comment in first place!
I can't even find your comment dickwad. They are all grey. Seems like your voice don't matter. Go play with your Barbie's...
Go lick other dogs asses seems thats all it should be used for.
Doesnt matter and yet you respond!
If you dont like negative comments maybe dont foul on other peoples work you retarded simpleton!
Thanks for this post!
You all must know that it is online currency how we will use it in offline mood?
very well information all steemit user. it help to us,,,
thanks for shareing...
Great post
Now I'm hungry ChickenBurger!!!
Haejin do you mine bitcoin?
It's like a rollercoaster I swear.. Up and down.... and then up again
This is critical information. I feel like I got this right on time..
very useful information