GLXY trade ideas
Galaxy Digital.Galaxy Digital Holdings Ltd. is showing strong potential for growth, supported by its solid financial performance and strategic expansion in digital asset management and mining. While the current technical indicators present a mixed sentiment, the overall long-term outlook remains bullish. Investors should consider entering a long position if the price confirms an upward trend above the 10-day EMA, with a well-placed stop loss to mitigate risks. For those considering shorting, monitoring the price action around the 10-day EMA and setting a conservative stop loss is advisable. With the company's aggressive growth trajectory and favorable market conditions, Galaxy Digital remains a compelling investment in the crypto space.
1-Year Price Target:
Average: CAD 19.97 (+27.01%)
Max: CAD 23.01 (+46.34%)
Min: CAD 17.98 (+14.36%)
Long Position
Point: CAD 15.75 (just above the current price to ensure confirmation of upward momentum)
Target Price: CAD 19.97 (27% upside potential)
Stop Loss: CAD 14.05 (just below the 100-day SMA to minimize loss)
Short Position
Entry Point: CAD 15.68 (if price drops below the 10-day EMA indicating a potential downward trend)
Target Price: CAD 13.75 (next support level based on Fibonacci retracement)
Stop Loss: CAD 16.50 (just above the Ichimoku Base Line to prevent excessive loss)
[Galaxy Digital]In the coming weeks, Galaxy Digital will suffer from the trend reversal in the crypto market and the decline in Bitcoin.
GLXY.TO If the crypto industry doesn't die this does wellThe company is my favorite of the publicly listed crypto related stocks. It's cheap and well run. Made lots of acquisitions on distressed crypto assets over the past several months as crypto experienced negative events and drawdowns.
GLXY GALAXY DIGITAL HOLDINGS EW COUNTGLXY showing weak rally off the lows with BTC.D flexing its muscle and sucking the market cap out of alts to push higher.
However, another alt pump may be approaching (or may have started).
GLXY under $5.00 is good area to start accumulating (depending on your outlook on markets), under $4.00 is even better.
Currently, favoring the count as wave (5) of ((3)) already ended and start of corrective ABC in progress with current pullback as a wave (ii) of the ABC.
THIS can be wrong, and investors/traders should always take into considering the trade/markets can go against them.
I do favor another leg higher before we retest the lows or even resume lower, with final target in that $12.00-$13.00 area (0.236 fib retracement, which should normally start at the beginning of wave 1, but with the small difference between the high and wave 2, I'd rather be modest and use a lower target approach as the wave 2 can also just be a wave B).
Can compare previous 'lows' or local bottoms and see how GLXY moves at the lows. Can see the bear trap setup before pushing higher.
I believe downside is limited here even if it breaks below current low (importance of DCA, risk management and stop loss).
zigzag (GLXY)Galaxy Digital Holdings Ltd. is a limited partner in Galaxy Digital LP, a merchant banking institution dedicated to the digital assets and blockchain technology sector. The firm operates across four business lines: asset management, trading, principle investments, and advisory services.
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The cost basis of the low power VLSI technician is highlighted in black. His mastery of concepts such as voltage, transistors, nanometers, electricity makes it no surprise he got in at the lows...
we will sell abve cb, -80%, but something tells me that the goldman man will be happy buying back, options at 33, will mature way in the green, as another opportunity once did present itself, at favourable prices today...
BRPHF Galaxy Digital - monthly RSI to 39Kind of disbelief with how great the company is but the monthly RSI needs to re-test lows of 39. I don't like how volume is not small on the correction - in deed the volume has remained high - not a good sign.
Unlike RIOT I think this has a 3 x down to about 2 - 3$..
Wish you all well
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GLXY...continued consolidation or new bull underwayGLXY has been correcting/consolidating during the last year but is starting to show signs of a potential new bull leg. The upmove from 2020 to 2021 was impulsive in nature (white) and has been correcting/consolidating (purple) forming a slightly downward channel (blue). Price has recently broke above the 55wk EMA (yellow) and needs to stay above there and break the upper channel (low $40s) in order to confirm that a new leg has started, but the structure looks complete and ready. Small long positions with a stop below the 55wk EMA are worth exploring in the short term for a run to the low $40s.
GLXY...testing support. GLXY failed to make a new high last november and has been retracing since forming a wedge where it is currently testing its lower bound and also where the 55w EMA $22 sits. This levels need to close on a closing basis in order to think that GLXY still has a shot at breaking on the upside towards new highs. Stochastics signal oversold conditions and we are a couple of weeks away from posting a 9 on TD sequential, so there is potential that this could be the bottom. Patience is key on this one and watch for BTC as it currently sits at key levels accordingly.
Elliott Wave Analysis: Who Is Driving Bitcoin?Hello traders and investors!
Today we want to show you who is potentially driving Bitcoin. Mike Novogratz's Crypto firm Galaxy Digital Holdings is just one of big investors who are responsible for the price of Bitcoin.
As you can see, there's a nice positive correlation between GLXY and BTC and if we consider a big A-B-C correction from April highs, then wave C can be already in progress.
We also have a nice bearish divergence, where BTC has reached new all time highs, while GLXY didn't, so if we consider that GLXY is trading in an A-B-C zig-zag correction, then BTC could be easily trading in an expanded flat correction.
The main reason for more weakness in the upcoming days/weeks is current sharp decline back below channel support line that can send the price all the way back to July lows.
Be humble and trade smart!
Disclosure: Please be informed that information we provide is NOT a trading recommendation or investment advice. All of our work is for educational purposes only.
GLXY finally breaking out?After the recent consolidation/correction in a triangle, GLXY seems to fianally breaking to the topside and joining the recent BTC/Crypto rally on what could potentially be our awaited wave 5 discussed before.
Target 31-36-46 Cryptocurrency-focused Galaxy Digital Holdings Ltd. (GLXY) on Thursday announced that its affiliate, Galaxy Digital Asset Management, reported preliminary assets under management of $2,130.8 million as of August 31, 2021.
Target 1 : 31
Target 2 : 36
Target 3 : 46
$BRPHFGalaxy Digital Holdings Ltd., an asset management firm, operates in the digital asset, cryptocurrency, and blockchain technology industry. It operates in five business lines, which include trading, asset management, principal investments, investment banking, and mining. The company buys, sells, lends, and borrows cryptocurrencies and other digital assets, which include over-the-counter (OTC) liquidity provision, on-exchange market-making, OTC derivative trading, options, futures, borrowing and lending, proprietary quantitative, arbitrage, and macro trading strategies. It also manages third party capital across various traditional asset classes comprising macro hedge funds, long/short equity hedge funds, venture capital, and various structured credit and direct lending funds. In addition, the company offers advisory services, such as general corporate, strategic, mergers and acquisitions, divestitures, and restructuring advisory services, as well as equity, debt, and project finance capital markets services to public and private clients. Further, it manages various products and services related to bitcoin mining by sourcing clients, creating miner focused products, and identify new solutions; and provides trade and risk management solutions, and principal lending and equity investments, as well as advisory services for bitcoin miners. Additionally, the company manages a portfolio of private and public principal investments across digital asset, cryptocurrency, and blockchain technology sector, including early- and later-stage equity, secured lending, pre-initial coin offering contributions, and other structured alternative investments. Galaxy Digital Holdings Ltd. is headquartered in New York, New York.
Investment Giant Invesco Prepares Products with Bitcoin Support
Investment giant with more than $1.3 trillion in assets and one of the largest providers of exchange-traded funds in the United States, Invesco plans to launch its series of Bitcoin-backed products, The Wall Street Journal reports.
On September 22, Atlanta Asset Management intends to announce a partnership with Galaxy Digital Holdings, a start-up digital asset business, to create U.S.-listed ETFs that hold and track the performance of Bitcoin and other cryptocurrencies while trading like stocks. If and when the Securities and Exchange Commission (SEC) authorizes trading in virtual currencies, Asset Management and Galaxy Digital plan to capitalize on investor interest in digital assets in the form of cryptocurrency ETFs.
Bloomberg Intelligence commodity strategist Mike McGlone believes that the U.S. government could authorize the creation of a Bitcoin ETF by the end of October. In addition, he noted that Canada has built a competitive edge ahead of the U.S. by allowing Bitcoin ETFs in April. In this regard, McGloon noted that institutionalized crypto products in Canada are attracting money from the U.S., including from Ark Invest Cathie Wood. He is convinced that the American legislators will not settle for this for a long time.
$GLXY HTF IBO Long#1 Main Watch
$GLXY HTF IBO Long
Monthly - Pullback/Low test
Weekly - 50 ema
Daily - MACD/Support/Strong break and retest/Fibs/Emas
LTF - 4HR 50 ema support/1HR decel
RR - 3
Additionally on Watch:
Main - $COIN
Secondary - $EXPI
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GLXY....is support in sight?GLXY has corrected to the 0.382 of what could have been Wave 3. Corrective Wave 4 could end around this area of $18.60, but given recent market action in crypto it is very likely that we still squeeze lower to the 0.236 fib level in the $12.00 region, and where the 50w ma also crosses, before a potential Wave 5 could start. All eyes on this area as there is not much support underneath if it does not hold.
GLXY LongGLXY shows no weakness, still bullish. Current price objection $37 CAD with further climb up. There's still much supply available to buy, don't miss your chance.
Crypto Stonks are the Next Best thing to CryptoVery bullish pattern emerging on this one. After some review of the fundamentals, this company is heavily invested in most aspects of the crypto space making it a great investment for anybody looking to find exposure to the market without taking on major risks based out of ignorance. This stock should do well into 2022. Mike Novogratz is a veteran of the industry.
Fibonacci .618 level is giving me a target for $62, and if we continue inside this rising channel then we should see it by early May! HODL that stonk.
First GLXY Chart on TradingViewHodl the long from $1.5
Linked below is first chart to buy GLXY
+ Bitcoin Bull Run Call
+ Last Bitcoin Cycle Top
+ Buy TRON
GLXY LongGalaxy Digital is still rising, if you're a hodler - just hold. At the moment is a little bearish with possible pullback to $23 CAD but for longer term is still unchanged $28+ CAD in 2nd half of April or even sooner. And for far long price objectives it projects $55+ by current volumes.
