GBTC - started the expected rally

My previous update posted on 17 May 2019 was called: “GBTC – this pullback looks like a buying opportunity”.

This is what I wrote: The structure of the rally in GBTC does not look complete. Moreover, even to complete the strongest part of the rally in wave C of 3 GBTC needs to rally in wave ( v ) of C of 3 to another higher high targeting 12.70 – 13.20.”

This morning GBTC opened with a gain of 7%. It should be counted as wave ( a ) of ( v ) that may either retest the previous top made by wave ( iii ) at $11.00 or even make a higher high. After a pullback in wave ( b ) of ( v ) we should get the final push higher in wave ( c ) of ( v ) into the Red Target Box ($12.70 – $13.20).

GBTC - 45 min chart updated at 9-05 AM on 20 May 2019

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