Length upcoming bear season will be almost equal to the “gbtc at a discount” timeframe: two months and counting.
Lowest Bitcoin price during this bear season can be calculated with this formula:
(pi x (hdgd))% of ATH (dip percentage)
hdgh = highest daily grayscale discount
Lowest price calculation at the moment ≈$26400.
I think that we will see a ≈22% Grayscale Bitcoin Trust discount in the coming days.
That would mean that the lowest Bitcoin price during the mid June 2021 bottom will be somewhere around ≈$20200.
ycharts.com/companies/GBTC/discount_or_premium_to_nav
We will see Bitcoin do a hard V-reversal after the bottom in mid June 2021.
Lowest Bitcoin price during this bear season can be calculated with this formula:
(pi x (hdgd))% of ATH (dip percentage)
hdgh = highest daily grayscale discount
Lowest price calculation at the moment ≈$26400.
I think that we will see a ≈22% Grayscale Bitcoin Trust discount in the coming days.
That would mean that the lowest Bitcoin price during the mid June 2021 bottom will be somewhere around ≈$20200.
ycharts.com/companies/GBTC/discount_or_premium_to_nav
We will see Bitcoin do a hard V-reversal after the bottom in mid June 2021.
Trade active
Opened a big short. Tomorrow I expect the first aggressive dip (52k).Note
Grayscale discount is getting closer to that 22% number.Note
I'm expecting an accelerated breakdown towards 42k coming Monday.Note
Bitcoin working on a bearish crossover (1D, MA50/MA100).Note
Bitcoin completed the bearish crossover (1D, MA50/MA100).Note
Bitcoin working on a death cross (1D, MA50/MA200).Trade closed: target reached
Hey friends! I closed my short today and will follow up my views and comments in the related idea:
Hope you check that one out!
/salute Shiningforce
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.