Updated
Cathie accumulates, GBTC sleeps
It is clear that Cathie Wood believes that GBTC shares will be higher than 24/share in the future, however IMHO Cathie did not add as much position as the prior low. Had she more conviction she would have accumulated even more...
In full disclosure, I DCA'd GBTC in relatively small amounts on Monday and Tuesday - and it seems that Cathie did as well (this and the prior local low). Although shares flashed a green candle, and a near-term rise is possible, the charts don't support a much more positive expectation as long as the lackluster volume is neither rising nor falling at a significant rate.
A cross-over will come soon enough and when that happens it will be much more obvious that it is time to jump back in. For now, I'm following Cathie's lead and DCA'ing on these 'lows'.
In full disclosure, I DCA'd GBTC in relatively small amounts on Monday and Tuesday - and it seems that Cathie did as well (this and the prior local low). Although shares flashed a green candle, and a near-term rise is possible, the charts don't support a much more positive expectation as long as the lackluster volume is neither rising nor falling at a significant rate.
A cross-over will come soon enough and when that happens it will be much more obvious that it is time to jump back in. For now, I'm following Cathie's lead and DCA'ing on these 'lows'.
Note
We sharply crossed over the 21-period EMA (8hr chart) as GBTC caught up with BTC pump. The crossover such as this seldom happens if we match prior activity, we have additional upside ahead.. However, it is possible that like March/April, if price stagnates, we could see a re-test at around 26. If this re-test holds, then further upside is expected (based on past performance).
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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.