Grayscale Bitcoin Trust (GBTC), like Bitcoin itself, is working on a consolidation as it has chopped sideways for the past seven weeks. On Friday it posted a pocket pivot at its 10-day moving average, which would also serve as a tight selling guide if the pocket pivot fails.
Similar action was seen in the ProShares Bitcoin Strategy ETF (BITO) on Friday as it posted pocket pivot support at its 10-day moving average. A lower-risk entry opportunity using the 10-day line as a tight selling guide if indeed the crypto-currency space is headed higher after Russia declared that China could purchase Russian oil using either gold or Bitcoin.
Pocket Pivot Review - Grayscale Bitcoin Trust (GBTC) - April 2, 2022
|Published:||2 Apr 2022 12:27 ET|
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