Stocks

GBTC Is Looking For A Bullish Resumption After Bitcoin HalvingApr 23, 2024

We talked about bullish GrayScale Bitcoin Investment Trust (GBTC) already back on February 28th with a weekly free chart, where we mentioned and highlighted an ongoing five-wave impulsive bullish cycle. CLICK HERE

GBTC Is Looking For A Bullish Resumption After Bitcoin Halving GBTC Weekly Chart From February 28 2024
GBTC Weekly Chart From February 28 2024

Well, as we actually expected, after GBTC reached all-time highs, we can see a projected slow down that looks like a wave (4) correction.
A correction actually occurred a month before the Bitcoin halving and finished right before the Bitcoin halving. And, as you can see now in a closer, 4-hour chart after the halving, GBTC is bouncing from projected support after a completed A-B-C correction in wave (4), so wave (5) is now in progress, which can easily lift Bitcoin price back to highs as well.

GBTC Is Looking For A Bullish Resumption After Bitcoin Halving GBTC 4H Chart From April 23 2024
GBTC 4H Chart From April 23 2024

Even new-listed VanEck Bitcoin Trust ETF (HODL) is looking for a bullish continuation within wave (5) of an impulse from the lows after recent nice and clean A-B-C correction in wave (4).

GBTC Is Looking For A Bullish Resumption After Bitcoin Halving HODL 4H Chart From April 23 2024
HODL 4H Chart From April 23 2024

For a detailed view and more analysis like this you may want to watch below our recording of a latest live webinar streamed on April 22 2024:

Become a premium member

Get daily Elliott Wave updates for SP500,DAX, GOLD, SILVER, CRUDE, FX, CRYPTO, etc. or apply for unlimited access to the Elliot Wave educational videos.

Register and look inside of our members area

Microstrategy Slowed Down For A Correction Along With Bitcoin. Check our free chart here.

Do you find this interesting? Subscribe to our newsletter and stay up to date.

In our newsletter you will find all the news and macro reports about Forex, Crypto, Commodities and more. Don't miss a thing!

    DISCLAIMER

    Any reviews, news, analysis, prices or other information contained on our website is provided as general market commentary and delivered electronically through a distribution channel to larger number of clients, therefore does not constitute investment advice or investment research. We are not trading advisors. Most of our work is for educational purposes only, with information based on Elliott Wave theory in real time. Trading forex, futures, options, stocks, cryptocurrenices or any another trading market carries a high level of risk, and may not be suitable for all investors.

    The possibility exists that you could lose some or all of your initial investment; therefore you should not invest money that you cannot afford to lose. Our website and the information that we provide should not be relied upon as a substitute for extensive independent research before making your investment decisions. In no event will we be liable for any loss or damage on your account in connection with, the use of our products. For any real cash investments you have to contact your financial advisor.

    Any information or material contained on our website is owned by Val Global d.o.o.. Reproduction is prohibited without Val Global d.o.o. prior license in writing.

    By continuing to use the site, you agree to the use of cookies. Learn more.

    The cookie settings on this website are set to "allow cookies" to give you the best browsing experience possible. If you continue to use this website without changing your cookie settings or you click "Accept" below then you are consenting to this.

    Close