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iShares Bitcoin Trust
Long
Updated

BTC ETF: If you had been holding off from buying, now's the time

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I'm positive the post ETF selloff is over, GBTC redemptions slowing down for 3 days, and 4h is showing a bullish Timemode pattern. (also forming in spot #BTC)
Low risk entry here, I favor IBIT personally, but ETF selection is up to you.

Best of luck!

Cheers,

Ivan Labrie.
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So far, so good...
Trade closed: target reached
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4h target hit

If you bot with sizing based on the 4h chart, your stop was tight and position likely very large.

You can reduce size now, considering long term signal is invalidated below 24900 in BTCUSD spot charts, that would be a 40.54% fall from here, so size accordingly...depending on your risk tolerance.

Best of luck!
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Trend signal expires by tomorrow at 13pm GMT-3.

I don't know if this will impactful, as we could be forming a weekly trend signal here, now that the GBTC dumpage and rotation away from crypto proxy stocks into cheaper spot ETFs with almost perfect correlation to spot Bitcoin is likely over.

I generally think most crypto related assets will go higher from here long term.
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Update...
IvanLabrie
Also on:
Beyond Technical AnalysisChart PatternsTrend Analysis

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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.
Beyond Technical AnalysisChart PatternsTrend Analysis
IvanLabrie
Also on:

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.