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Date Posted: 08:51:45 04/24/19 Wed
Author: philbond007
Subject: GBTC(bitcoin trust): daily candle chart

Bitcoin had a nice pop since I last posted a few weeks ago, so what now? Decided to use GBTC instead of XBT for a change, & see if the chart below offers a little more insight. As of this post, GBTC is down about $.20c in pre-market, as the price flirts w/the SOLID BLUE resistance line.

Sometimes, you just gotta keep it simple, & what I'm seeing is a fairly FAT GAP left at the $5.03 level, never mind the smaller one below. When it comes to gaps, meaning, which ones get filled first, your guess is as good as any. Moreover, it's important to remember the crypto's are an EASY MANIPULATION, so at this juncture, I'm thinking some caution is warranted.

I'm seeing the $7.40-$7.80 area as tuff resistance, & a perfect area to pull a possible BULLISH H&S breakout, only to be followed by a possible giant FAILURE on pullback to retest the neckline. Put another way, a lot of progress has been made in the last few weeks, but it's still early to ASSUME large bitcoin HAIRCUTS are behind us.



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