Short
What does GBTC tell us?
From my perspective it tells us that Bitcoin did not make a significant new ATH in November. Together with the low volume it looks artificial since June.
Note
The old support is now clearly new resistance.Note
Hit the support around 35 a clear close below the support means GTBC will probably go to 28, look at the chart, does this look like a bull market?
Trade active
Still on track with the prediction, getting more and more bearish on Bitcoin, again GBTC shows us the trend much cleaner. I wouldn`t exclude a drop to the 200-w MA the coming months.
Trade active
Target of 28.0 almost reached, from there i expect further decline on the long term, maybe first a pump to 36 before further decline.
Trade closed: target reached
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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.