GBTC-5-29-19

GBTC - my previous bullish call delivered 10% in five days!

In my last update posted on 24 May 2019 I wrote: “below you can see the next target for this rally in the neighborhood of 12.05 – 13.05.” back then GBTC traded at 10.64. Now, five days later it is traded at 11.66. It has delivered 10% gain in five days.

GBTC - 45 min chart updated on 24 May 2019

On the updated chart below you can see that GBTC is approaching the Red Target box. I have a strong confluence of extensions in the area from 12.05 to 12.70. This where wave 3 up may top. Off that top we may get a pullback to 9.74 – 9.08 in a corrective wave 4 down.

GBTC - 45 min chart updated on 29 May 2019

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