GBTC Bitcoin Trust. Weekly Chart.

    Posted by goldnice on 8th of Jun 2021 at 11:44 pm

    GBTC Bitcoin Trust. Weekly Chart. Currently still in a major {Wave 4} correction. The target for a {Wave 4} bottom could be the lower rail of the {pitchfork} around the $23 level. As long as we stay above the major {Wave 1} top at $17.40 this count remains valid. 

    Thanks for the chart. This

    Posted by fundamentalvalues on 9th of Jun 2021 at 07:30 am

    Thanks for the chart. This is exactly the type of situation I'm watching for longer term buying opportunity. I have no direct exposure to crypto at the moment, only the Coinbase that Cathie owns in ARKK, which is only 3.68% of the fund at last glance. And that fund exposure is only like 2% of our total assets. So it would be nice to grab some crypto on a market meltdown. It appears to be here to stay. I would probably look to put 1-1.5% of our assets in something like GBTC or GDLC (large cap crypto trust) if I got my price. Would be nice to see 20k, but the market will decide. I'm watching everyday. 

    Years ago I was able to acquire muni bond assets for incredible prices with Meredith Whitney did the tour scaring everyone that massive bankruptcies were coming. I still have a lot of that exposure to this day and have just been compounding the interest. It takes patience, but these are the situations to pounce on. I've done that in oil multiple times and used leverage to achieve massive gains. One tip I'd give is that I use an amount dollar wise in allocation that you could care less if it is up or down during a given day. That way its easier to hang on. When you aren't checking in multiple times throughout the day, it may be the right amount. Its very personal as always. Thanks everyone


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