GBTC D.34 made a new Trading Cycle #3 high but then printed a bearish reversal candle into the close (on volume). Was anyone expecting this? My Time & Price Cycle models were screaming for at least a short term top and dangerous to chase here.

Below are two Daily GBTC charts & a Weekly BitCoin chart. The first from this morning where I warned that price was forming a parabola and the second one from today’s close. The gap up two days ago was likely an exhaustion gap that will be closed and I have shown potential support levels near the 10ma.

While this likely signals a TC3 top, a high on D.34 is bullish and the cycle norm is for the highs to be at least re-tested, so we may well see a 4th Trading Cycle within BitCoins longer Intermediate Cycle after TCL3 forms. BitCoin normally has 3 shorter Trading Cycles within its longer Intermediate Cycle but has had 4 in the past, especially during bullish runs like we are seeing now (my 3rd Weekly BitCoin chart above shows a 29 Week ICL at the end of the last bull phase which had 4 shorter Trading Cycles).

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