Bitcoin & Cryptos Bottoming?
Looks like an Intermediate Cycle Low (ICL) may have formed.
Did you have the insight or courage to pull the trigger near the bottom?
https://surfcity.co/2019/10/25/heads-up-23/
Looks like an Intermediate Cycle Low (ICL) may have formed.
Did you have the insight or courage to pull the trigger near the bottom?
https://surfcity.co/2019/10/25/heads-up-23/
Yes agree. IF we break above the 50 day and 200 day moving averages would be a fake death cross.
Lets see…
Bitcoin never had the death cross and it is the cycle driver. The long-term charts for both Bitcoin & GBTC are extremely bullish in my Cycle Book as I show the ICL in late 2018 was also a 4 Year Cycle Low. The move out of the 4 Year low was very robust and now it appears GBTC held near its 62% Fib level retrace. Some are concerned price exceeded the 62% Fib but remember that Bitcoin is the cycle driver here and it has held near its 50% Fib retrace. GBTC NAV issues likely moved it lower than Bitcoin but I am not concerned as the long term chart is still super bullish.
GBTC never had a death cross, but BTC is having one as we speak.