Technical Analysis

Bullish GBTC Can Push Crypto Market HigherSep 25, 2024

We want to share an interesting pattern on the monthly GBTC – Grayscale Bitcoin Trust chart. It’s a nice bullish cup and handle pattern, where handle is supported by 20-month moving average. Cup and Handle is a bullish pattern that can push Crypto market higher.

Bullish GBTC Can Push Crypto Market Higher GBTC Monthly Technical Chart
GBTC Monthly Technical Chart

Looking at the daily chart of GBTC from Elliott wave perspective, it still looks like a nice wave 4 correction that can resume the bullish trend for wave 5 while it’s above that trendline connected from the lows.

Bullish GBTC Can Push Crypto Market Higher GBTC Daily Chart
GBTC Daily Chart

We talked about Crypto market, specifically Crypto total market cap chart with ticker TOTAL in our youtube “shorts”. We also see an unfinished five-wave bullish cycle that can send the price towards all-time highs. Check it below.

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