GBTC: 8 month uptrend active, 8 week uptrend might activate next

$GBTC is in a monthly rally, and despite hitting all monthly targets, the weekly timeframe indicates it can march higher, which coincides with the $BTCUSD and $XBTEUR chart data. In this case, the uptrend started off the lows, and confirmed an 8 month rally a few months ago. There's time left, which matches the duration of the weekly signal, all of this is very logical, and gives us more confidence in our positioning.
I reccomend entering longs breaking over a previous high here, or simply at market open. Stop losses are not reccomended, so simply size the trade according to your risk management criteria. I will reserve my exact entry method and sizing to my clients. This trade is specially reccomended if you lack a cryptocurrency account with Kraken or Gemini.

Best of luck if taking this trade with me.
Cheers,

Ivan Labrie.

Commentaire:

8 week rally confirmed, looking to add a bit more on dips.
$GBTC gained a nice boost from the sale of $BCH holdings I guess...if they did sell.

Commentaire:

$GBTC about to break out as volatility jumps

I can easily see it hit the targets. Hodl!

Trade fermée: cible de profit atteinte:

Target #1 exceeded, I closed at $750.50 for a great profit. I will reenter after a consolidation or pullback.

Commentaire:

The 750.5 exit doesn't look too bad now
s3.amazonaws.com/tra...shots/v/vU2sBUCm.png

Waiting to buy back lower...for now.

Transaction en cours:

I bought back and sold in profit, from 698 to 739 or so.
I then bought back higher, sadly, at 821.

Commentaire:

Keeping a trailing stop is wise...but use alerts, not a stop. I reccomend 3 ATR down in the daily, for example.