Updated
Check your sentiment
GBTC strongly inferred the 'double top' narrative back at the top in 2021
So why shouldn't we continue to follow the chart?
Or have you all forgotten
Seeing as GBTC is an institutional grade asset, then the chart should reveal some more information about large cap investors
Well, bearish divergence on rsi, macd rolling over with negative confirmation
The chart is at peak resistance! It hasn't broken the same level as spot bitcoin has even with the premium advancing!
There is significant weakness here and no follow through from institutional clients
And you think that retail has enough money to fomo and induce multi tens of billions of liquidity into the market, when it is clear institutions have no follow through?
Busd and Usdc are printing money right now!
It's not bullish it's bearish get it right!
You are exit liquidity
The price can still rise up to
42K
Doubt it can make it past $31k. The only liquidity this market can tap is liquidations and well, the shorts are mostly wiped out my friend...
So why shouldn't we continue to follow the chart?
Or have you all forgotten
Seeing as GBTC is an institutional grade asset, then the chart should reveal some more information about large cap investors
Well, bearish divergence on rsi, macd rolling over with negative confirmation
The chart is at peak resistance! It hasn't broken the same level as spot bitcoin has even with the premium advancing!
There is significant weakness here and no follow through from institutional clients
And you think that retail has enough money to fomo and induce multi tens of billions of liquidity into the market, when it is clear institutions have no follow through?
Busd and Usdc are printing money right now!
It's not bullish it's bearish get it right!
You are exit liquidity
The price can still rise up to
42KDoubt it can make it past $31k. The only liquidity this market can tap is liquidations and well, the shorts are mostly wiped out my friend...
Note
Suggest you always check GBTC VS BTC. This looks overwhelmingly bearish with a double top with lower highNote
naughty double top after breaking a macro bear market trendline like that. Absolute dirty shenanigans.
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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.