GBTC BarsGrayscale is following similar bar pattern fractal as previous 2 cycles and hitting resistance on major macro trendlines coming off the previous ATH. Nice steady uptrend since beginning of 2023
GBTC trade ideas
Potential Top for Bitcoin and GBTCWe have reached an area where Bitcoin has topped in terms of the Grayscale #Bitcoin product. This has been a good indicator of when to sell Bitcoin and the end of the halving cycle.
Cup and Handle Formation Spotted On GBTCWe want to share an interesting pattern on the monthly GBTC – Grayscale Bitcoin Trust chart. It’s a nice bullish cup and handle pattern, where the handle is supported by a 20-month moving average. Cup and Handle is a bullish pattern that can push GBTC, Bitcoin and the whole Crypto market higher at the end of 2024 or the beginning of 2025.
The cup and handle pattern is a bullish continuation pattern in technical analysis. It looks like a cup with a handle on a price chart. The cup is U-shaped, indicating a period of consolidation followed by recovery. The handle is a short period of consolidation after the cup, leading to a breakout above the handle's resistance level, signaling a potential continuation of the uptrend.
Not only cup and candle, but even Elliott wave path suggests price can resume up, not to mention risk-on flows and bearish Dollar.
GBTC holds all time support growth curve up 500%Follow @ethanalysis for incredible but VERY rare calls like this. #GBTC, #BTC, #CKB.
Grayscale Bitcoin GBTC Elliott Wave Analysis Grayscale Bitcoin GBTC Elliott Wave Analysis
Weekly Chart
Elliott Wave count: Minor wave 1 of Intermediated Wave (5) of Primary Wave 3) of Cycle degree I
Bullish Trend: Motive Structure
GBTC Is Looking For A Bullish Resumption After Bitcoin HalvingWe talked about bullish GrayScale Bitcoin Investment Trust (GBTC) already back on February 28th with a weekly free chart, where we mentioned and highlighted an ongoing five-wave impulsive bullish cycle.
Well, as we actually expected, after GBTC reached all-time highs, we can see a projected slow down that looks like a wave (4) correction.
A correction actually occurred a month before the Bitcoin halving and finished right before the Bitcoin halving. And, as you can see now in a closer, 4-hour chart after the halving, GBTC is bouncing from projected support after a completed A-B-C correction in wave (4), so wave (5) is now in progress, which can easily lift Bitcoin price back to highs as well.
Bitcoin ETF: Sideways Action to Pattern Out Excessive GainsProbably the most popular Stock Exchange Traded Bitcoin Trust at this time, AMEX:GBTC has started a consolidation that may turn into a small triangle formation. Triangles are a form of a consolidation that can work to pattern out excessive price gains without a run or correction down.
This is the weekly chart where we can see that GBTC is now above its previous all-time highs. It is still affordable and poses less risk than the actual Bitcoin, which is very expensive.
GBTC: SAME 2016 PATTERN?Hi guys,
I was looking on GBTC chart and I saw this pattern that seems too similar to first cycle for Grayscale.
Rsi moved quite similar, if we see the same scenario Btc could drop 40-50% just 1 week later the Halving, but who knows.
Is this relevant for who has bought the low? Obviously not, so for me it's not important but understanding the psychology behind the scene it is.
Let's see.
Gbtc end of era or bitcoin new bear market Its look like we are going to new bear market
In btc Am not sure of this
But this analysis shows gbtc already topped
By fake breakout of triple top
And 3 tops on volume bars
Also every time on tops volume on gbtc going to much high
So were we are going?
We will get correction
In volume or in prices and volumes
Gbtc volume down but prices going up = bullish because that mean they stop selling
Btc volume down and prices down = new bear market
Easy short? Shorting until around $44. If we hold there it may be a good spot for a buy. This is congruent with BTC chart, which is calling for a further dip into the 50s and possibly 40s.
Grayscale Bitcoin Trust (Btc) SAME AS IN 2010HELLO TRADERS
GBTC is now getting investors getting attention from around the world and now it's really early times like Crypto was in 2010 ... this can be an easy target for generating worth by grayscale with hold more and more BTC in this year bitcoin price is boosting again above 44k $ it's just a trade idea make a proper analysis be for any trading share Ur thoughts with us it will help.
Bitcoin | Armed and DangerousThere was the time, when one investor decided to invest in a single stock.
That investor was one of the victims of The Great Depression.
And they learned an important lesson, to split up their investment in multiple stocks to reduce risk. And so, Modern Monetary Theory (MMT) was born.
MMT is an algorithm one can apply to reduce risk and improve profits.
Mutual Funds do exactly that. They are algorithms that dynamically invest money with specific rules in mind. ETFs are, of course, made to make profit to those investing into them.
Bitcoin remained for years in limbo, in a state between being considered a viable currency, to viable gold etc etc. The recently-approved Bitcoin ETFs have certainly attracted interest. For the first time, one can invest in crypto in a sustainable fashion.
One of the oldest Bitcoin ETFs is Grayscale's Bitcoin Trust.
While I am not familiar with the way this specific ETF works, we can however make some important conclusions. Since this ETF is Bitcoin-based, it is safe to assume that the higher Bitcoin goes, the higher the ETF.
Unfortunately for Bitcoin Bulls, something alarming happened in this bull market.
Bitcoin ETFs have attracted so much attention that they have managed to grow more than the underlying investment (Bitcoin).
As seen on the main chart, the ratio has apparently broken out of a downward trend.
ETFs provide increased investment security, at the expense of decreased performance.
Bitcoin ETFs cannot sustainably grow against their fundamentals.
For this reason, this breakout could be a massive fakeout.
Even though these charts may frighten, a Bitcoin peak may not be imminent, but it is certainly approaching...
A similar-to-today price action occurred in 2017, a previous Bitcoin Bull Market.
In the middle of Bitcoin growth, ETFs had a significant pump in performance. This could be because of a "delayed reaction" in how this ETF works. Crypto may have been purchased in much lower prices, and when buyer mania came, the ETF rapidly increased.
A similar phenomenon is happening now.
ETF performance may be reaching its peak. ETFs allow rapid and secure profit-taking en-masse, compared to a direct Bitcoin sale. It is wise for us to watch closely the dynamics of ETFs in order to act quick in an oncoming Bitcoin weakness.
Tread lightly, for this is hallowed ground.
-Father Grigori
GBTC Over-speculatedThis INDEX:BTCUSD Bitcoin ETF is over-speculated at this time and heading toward resistance at the M top highs of 2021. Interesting that smaller funds have been dumping recently. Best to wait for a correction if this is something you are interested in for long term.
Do gaps have meaningAll yellow shows gaps in funding. Where is the liquidity at? Will this trigger future moves?
Grayscale Gravestone DojiThe price has started its descent off a Gravestone Doji. Selling pressure expected to last into the spring. This is either a good place to look for short entries, or a good chart to watch to buy into GBTC at a discount. RSI suggests GBTC has just began its descent. The ideal place the PA looks to land after the dust settles is around the .618 fib retracement level which coincides with a major support and the convergence of the 50, 100 and 200 simple moving averages.
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NFA, do your own DD
📊 Grayscale Bitcoin Trust ABCFrom November 2022 through January 2024 GBTC grew by 483%.
This bullish wave developed in a perfect 5-up wave pattern, a bullish impulse.
A Zig-zag correction (ABC) is likely to follow next.
There is a small hidden bearish divergence with the RSI, a signal to which we won't pay much attention to.
GBTC (Grayscale Bitcoin Trust) grew to hit the same level at which it was trading back in November 2021 on the decline, an incredible feat.
If this type of growth happened in the recovery year, 2023, imagine what is possible when the full blown bull-market takes place.
👉 We are set to experience something amazing in 2024 and 2025 with Cryptocurrency, I am already getting excited but the correction comes first.
The end target for the correction can happen between 15 and 21, a wide range I know but no need to be exact.
I love everything Crypto and I don't know why... It is something that came unexpectedly and entered my life.
Wishing you the best!
Now & always!
Namaste.
$GBTC Analysis After Spot Bitcoin ETF Launch- GBTC has been actively traded before the spot Bitcoin ETF approval
- GBTC opened slightly higher today with much more trading volume
- High trading volume = $36.8 million, much higher than the average $7.3 million trading volume over the past 30 days
- GBTC is currently at a strong resistance target, which is concerning that the ETF approved as the price is approaching a key resistance level
- The 1-week RSI is also extremely overbought and needs a correction
