The nosedive following last Wednesday’s opening-bar short-squeeze generated an impulse leg on the daily chart that has made the so-far feeble rebound a promising short sale. We might have expected a feistier bounce, since the breakdown beneath mid-September’s key low at 57.90 would have shaken off the heaviness of many bulls newly eager to exit. They got stopped out, and yet GBTC, unburdened of profit-takers, was able to claw back only 77 cents of the $5 loss from the midweek high. A robust leap to start the week would brighten the picture, but don’t get your hopes too high if you own this Bitcoin vehicle.
$GBTC – Bitcoin Grayscale Trust (Last:58.44)