SUMMARY
Bitcoin Investment Trust (GBTC) is a fine instrument to follow the Bitcoin (BTC) trajectory. I'd rather use this than any other pitch out there that sells a service of IRA Bitcoin with huge commissions! As much as 10%...NUTS!
The below chart shows a very strong support line that held solid. I've drawn out the Elliott Waves of which 1 and 2 (white) are complete. IF wave 3 has already started....oh my God, watch out; GBTC will fly like an eagle! If this is held at 1% to 10% of an IRA portfolio until the year 2025 or so...it could translate to MASSIVE wealth!
When taking a longer term perspective of Bitcoin Investment Trust (GBTC), the below chart tells quite a bit. First, the broadening pattern is pretty uncanny. Second, the Elliott Waves thus far jives quite well with the pattern. The first impulse (white); correction (red) and the projected blue rise towards the top trendline. Can you say the Jaws of Wealth?!!
Legal Disclaimer: I am not a financial advisor nor is any content in this article presented as financial advice. The information provided in this blog post and any other posts that I make and any accompanying material is for informational purposes only. It should not be considered financial or investment advice of any kind. One should consult with a financial or investment professional to determine what may be best for your individual needs. Plain English: This is only my opinion, make of it what you wish. What does this mean? It means it's not advice nor recommendation to either buy or sell anything! It's only meant for use as informative or entertainment purposes.
Please consider reviewing these Tutorials on:
Elliott Wave Counting Tutorial #1
Elliott Wave Counting Tutorial #2
Elliott Wave Counting Tutorial #3
Laddering and Buy/Sell Setups.
Laddering Example with EOS
Tutorial on the use of Fibonacci & Elliott Waves
@haejin's Trading Nuggets
Essay: Is Technical Analysis a Quantum Event?
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