BTC, GBTC, NYXBT update 09/04

BTC: Bounce continuous. Should target upper grey trend line. Bullish alternative is a 1,2 setup, but wave-3 has not shown itself in that case yet at all. Hence, why I prefer to see it as a bounce until proven otherwise.


GBTC: Also here no material change in my POV regarding where this fund is in the elliot wave count, as the move up is still muted and as expected. It could try to retest $12.25 before rolling over for minor-c. Only a break above 13 and especially 17 will have me reconsider this possibility as it turns the move into a larger up move, breaking the “lower high, lower low patterns”


NYXBT: the bounce also continues here, and is starting to run into resistance. A move over both resistance levels will certainly be a good signs and targets the 200d SMA, which is however starting to roll over. A positive development is the rising MACD (green dotted arrow) suggesting down side moves are losing momentum. Be aware that the RSI5 and FSTO are now overbought, which has during prior up moves/bounces meant upside will be limited. With the overhead resistance close by, it could mean a top is at hand.