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).