A recommendation to buy GBTC ‘mechanically’ that was sent out Wednesday night caught the week’s low and enabled subscribers who acted on my advice to reap a same-day gain of as much as 31%. The stock (an ETF, actually) popped to 21.50 Thursday after tripping the entry signal at 19.66. Based on my last update, you should still be holding as much as 50% of the original position for a possible ride over the next 2-3 weeks to as high as D=25.85. I’d use a break-even stop in the meantime, since this vehicle can be nasty when a trend becomes too popular. ______ UPDATE (Dec 15, 3:19 p.m.): Offer another 25% of the original position at p2=23.73. If filled, that would leave subscribers who followed my guidance with a hundred shares (or 25% of the original position) whose profit-adjusted cost basis is $9.33. ______ UPDATE (Dec 16, 8:49 p.m.): Officially, we exited the remainder of the position at 25.85, just off the intraday high. The theoretical gain on this trade would have been $1652. If you still hold part of the position and are playing for a moonshot, use 31.66 as a target. GBTC looks like a very good bet to get there. Also, stay tuned, since it may be possible to re-board this vehicle using a ‘mechanical’ set-up on the daily chart. The stop-loss would be around $3.50 wide. _______ UPDATE (Dec 17, 9:55 p.m.): Stupid but entirely predictable, the moonshot advertised in my last update happened in a single day, generating a 30.92 high before demand evaporated. That sent GBTC plummeting nearly $4, but rest assured bulls will be back, since a clear Hidden Pivot resistance on the weekly chart was exceeded by a mile. One of my coordinates on the intraday chart was slightly off, but when corrected the pattern produced a rally target at 30.93 that missed the spike high by a penny. Here’s the chart.
GBTC – Bitcoin Grayscale Trust (Last:28.25)