SUMMARY
Bitcoin Investment Trust (GBTC) was forward split and so the price is currently at $18.60. Regardless, the chart does not change and it gets re-normalized. The below chart shows how price has now corrected in an abc ZigZag pattern. The subwaves of the final C wave shown a bottom has likely been put in. The current price action is expected to bring price to around $38 or so IF this count is correct.
At an Intermediate degree of trend (multi-months...NOT TOMORROW!!), GBTC has completed what looks to be wave 1 and 2. Once wave 2 is complete, wave 3 is next. The time projection variance for wave 3 coudl be +/- 2 to 3 months. However, I believe a sizable correction once again awaits at around the late June/July timeframe. IF so, then profits should be taken to raise cash during the good times.
Legal Disclaimer: 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?
Follow me on Twitter for Real Time Alerts!!
Follow me on StockTwits for UpDates!!
--
--
