BTC, GBTC, NYXBT

BTC: Still looking for that bounce to around $8000. Current bounce is weak, as expected in a bear market, but should have some juice left. Please note that in bear markets upside targets are often not reached, just like downside targets in a Bull market are often not reached. Its the nature of the beast/market.

BTC

GBTC: Still has that bounce to at least $12 written all over it. The TIs are pointing up and want to see higher prices. The 50d SMA is now close to that larger S/R level as well. If the bounce continues higher and above this SMA, then next target is the 200d SMA, which is now at around $14.

GBTC

NYXBT: Nothing has changed from last week, the bounce is underway and I still expect it to reach that upper trendline of the wedge, which coincides with about the falling 50d SMA. Again, note the chart is a Bear market chart: price<20d<50d<200d. The only thing the bulls have going for it is the 200d SMA is still rising, but that’s about it. When the bounce higher ends, it should complete wave-d of the falling wedge and wave-e, the final wave should be underway. A stab below the lower trendline, by then at around $5000 wouldn’t surprise me to suck in the last Bear and have the last Bull cut his/her losses. Everybody sold?! Yep, then only buying is left 🙂

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