For a couple of days, it almost looked like bulls were going to avoid filling some large gaps they’d left on the intraday charts the previous week. Alas, they turned uncharacteristically timid as the new week began, turning a tedious stall into a full-blown rout when trading stopped mid-day on Christmas Eve. No doubt they’ll be back, but it will be interesting to see how Mr. Market challenges them to get on board for the next big leg up. The 37.86 target given here previously is no longer viable, nor is there any magic correction target I can offer you at the moment. Stay tuned in any case, since more bullish opportunities are surely coming. _______ UPDATE (Dec 28, 5:25 p.m.): Today’s bull-trap dive just missed triggering a ‘mechanical’ buy at the green line (x=29.82), stop 27.13. This strategy is still viable, but only for traders prepared to monitor the trade at night. _______ UPDATE (Dec 30, 6:57 p.m.): The ‘textbook’ mechanical trade triggered and has gone deeply in-the-black, putting a D=38.20 target in play. The pattern uses a corrected ‘B-C’ segmented, but the original pattern would have worked just as well, getting traders aboard near the low of a so-far 24-hour surge of 12%. If you did the trade, please let me know in the chat room so that I can determine whether to provide tracking guidance. You should be out of 50% of the original position, with an additional 25% offered at p2=35.28.
GBTC – Bitcoin Grayscale Trust (Last:32.88)