Articles Related to GBTC

Nightly Crypto Report, August 29th, 2023

Fakeout or Breakout?Long-term Traders:Intermediate charts and write-ups are included on Sunday's reports. Housekeeping:NAMicro:GeneralAfter news that Grayscale won its lawsuit against the SEC crypto in general blasted off, taking Bitcoin and Ether through resistance. But we don't have five waves yet. So, is this a news-driven trap, or the catalyst for a third wave? It depends on what is next. There is something about the structure I need to warn about.  Ideally, we are starting a big move higher. However, if recent lows are taken out the structure has changed and the targets I was looking for ($24,200 BTC and $1470 ETH) are not likely to hold.
by Ryan Wilday - 1 year ago

Q2 Algo Review: GBTC Magicbus

It's time, and honestly a little late for our Q2 Algo review. I'm going to start this set with Magicbus. Needless to say, it was a terrible quarter for 'Da Bus'. It was the worst quarter on cumulative return with a $3.98 per share loss, and the second worse in skew. That said, this algo is not expected to do well in strong downtrends but is handy for catching fresh upturns so I leave it signalling. And, despite this bad quarter Da Bus is still killing buy and hold. Signals started at $17.98 and our last sell signal was at $14.91. So, GBTC lost $3.07 during the life of the algo while Da Bus 'bank robbed' $36.84 per share. That's astounding.
by Ryan Wilday - 2 years ago

What Is The Best Buy In The Crypto World Right Now?

Produced by Ryan Wilday with Jason Appel and Avi Gilburt On October 15th, 2021, the SEC approved the ProShares Bitcoin Strategy ETF (BITO). There has been a lot of pent-up demand for and excitement about a Bitcoin ETF since the heady days of 2017. That day finally arrived. The assumption was that an ETF would attract funds parked on the sidelines into the cryptocurrency asset class because it eases some of the regulatory issues and user experience challenges of trading Bitcoin spot. Finally the day arrives, four years later than the market expected, but Bitcoin prices have dropped ever since. However, our team expects much higher Bitcoin prices, maintaining our expectation for Bitcoin to exceed $100,000.
by Ryan Wilday - 2 years ago

Q4 2020 Algo Review

My reasons for driving some of my trading, and this service, to Quantitative approaches, is not only to diversify the approach in the service, and obviously help us all make more money, but also to drive part of the service to simple, measurable results. Elliott Wave is still a quintessential tool in my box, and one that allows me to take many trades without the deep work I put into algos, just to get even one functional. However, Elliott Wave depends on both subjective and objective measures. And, I have built up an arsenal of trading skills to 'buffer' the subjective concerns.
by Ryan Wilday - 3 years ago

Change to Reports - Market Analysis for Nov 2nd, 2020

Last night, I received feedback regarding the long term sections in reports and I intend to address it. A critical post was put up and deleted, though not by me. The person in question DM'd me good feedback which I'm going to attempt to address. My personal approach to the long term write up has been to not refresh it until we have a key point in the market demands it. I've taken this approach for a simple reason. When, in the past, I allowed the micro to impact my daily counts, long-termers would get upset that my long term view was changing rabidly. So, I am now very cautious about making changes.
by Ryan Wilday - 4 years ago

Revisiting GBTC - Market Analysis for Sep 23rd, 2020

I wanted to circle back on GBTC with the bearish outcome growing. If you followed along, you should be well acquainted with the red B wave top which has been presented on my 6H charts since March. The issue I have with this count now, is that C of red B is shorter than A. That isnt a hard rule break but is lower probability. Further, what happens if BTC holds $5700 in an E wave, or C wave in a triangle and thats all the downside we see? In this case, I like white or orange. White would fit if BTC is in an E wave down as that will bring a breakout later this year.
by Ryan Wilday - 4 years ago

Charts on Bitcoin, Ether & GBTC

Floorboards Cracked Long Term Traders: If you were on the main board, you saw that I was exploring modifications to the 6H hour charts, using the B wave scenario. I'm going to play with them a bit more and post them in a 'special report'. If they play out, Ether can see its B wave top at $600+ and Bitcoin at an anemic $14K or so. Stay tuned. Housekeeping: NA Key Levels: BTC:$8800 to $9650SWING BREAK DOWN, $6460, $5650,$4520, $3000, $2200, $1600 ETH:$218 to $315SWING BREAK DOWN, (Note, if we have the first of the third, we need to hold $280) $169,$176, $141, $116$108, $83, $40 GBTC:$11.23to $9.18SWING BREAK DOWN$9.89, $6.93,$5.95, $1.71, $0.73 Short Term Traders General I woke up to downside action.
by Ryan Wilday - 4 years ago

Market Analysis for Jun 10th, 2020

Greetings from the Crypto Room- I wanted to give a quick update for GBTC traders as we come to a key region. For background on some things said below, I presume you paid me a visit at my public webinar.Please do if you haven't. If you did attend you know I am watching for a both an impulse toward $100+ and for a B wave that sends us back to ~$2. You also learned how faithfully cryptos tend to follow Avi's Fibonacci Pinball in relation to the first of third waves. In cryptos they tend not to extend. And, so if we do not see a five wave top by the .618 and even more so the .
by Ryan Wilday - 4 years ago

Bitcoin Update - Market Analysis for May 7th, 2020

GREETINGS from the Crypto Room I have been very quiet in the main room after the March 12th Breakdown in cryptos. Simply put, the breakdown opened up many long term scenarios that I must now navigate. While the breakdown itself does nothing to affect my call for over $100K Bitcoin it does challenge timeframes, counts, and demands a lot more nuance in my analysis. It might be hard to follow this report if you did not watch my post breakdown webinar.So you might stop and take that video in before reading further. If you are not in the service following my stream of consciousness, it is hard to report out publicly on the nuance I see without being pedantic.
by Ryan Wilday - 4 years ago

Market Analysis for May 6th, 2020

Have I mentioned that Ryan runs an awesome Crypto room? We will occasionally glance at GBTC in StockWaves, but if you are legit interested in going down the Crypto rabbit hole you gotta check him out! The counts for the actual coins differ from these "not ETFs" that try to track them. I get that some folks want exposure to Crypto in via accts that don't allow it... but GBTC is like the poser version of Crypto.
by Zac Mannes - 4 years ago

Tradeplan Switcheroo - Market Analysis for Nov 21st, 2019

I have been focused the last few weeks on my plan to 'compound the swing' as posted earlier in this education category (two weeks ago?). Today, the market threw a wrench in that plan. I now consider the market far too risky to hold large long positions, so I've stopped out and I am going to focus on short term. Right now I see a ton of overhead resistance in this market and it is still weak. The fall this morning will be hard to get over. I also see us in a bit of a no man's land here. Below $7425, I see a short opportunity, and am going to place a short sell stop.
by Ryan Wilday - 5 years ago

Swing Compounding - Market Analysis for Nov 6th, 2019

Think about the power of this. I bought 2 units of GBTC averaging roughly $8.90. (units is just generic for tranche so I don't reveal the funds I'm trading with). I sold one today at $11.45. I hope to buy 3 units at 10.46, and 3 more at $9.05, that may change if price warrants. Some of this profit is expected from other trades in gold mining. If ll goes well, I'll sell 4 units round $20-$21. Then if all else goes a planned I'll add back 8 units between $10-15 so and so forth.... Whoah. Point is you an start small in an early swing, and build on it with less risk as the trade develops.
by Ryan Wilday - 5 years ago

Nightly Crypto Report - Market Analysis for Oct 29th, 2019

The Bitcoin Train is Warming Its Engine For Long Term Traders:I'm going to rewrite that portion of the nightly as soon as possible, so it is missing from this report today. However, if our October 23 bottom holds, my targets for this bull run are: $188 GBTC, $144K Bitcoin, and $3040 Ethereum Housekeeping:Next I would like to apologize, though I had no control, for recent circumstances. Currently our power is on, but there has been many areas on and off the list. We've heard warnings of more outages, then we were taken off the list. I'm sure we'll be back on at some point. Buying generator got us lights and working computers, but not working internet.
by Ryan Wilday - 5 years ago

Weakness Continues - Market Analysis for Jul 24th, 2019

Weakness Continues I want to be crystal clear. Last night's 'supplemental' was a rush to warning after the market itself warned. But we do not have 'confirmation' yet that the downside is still inplay. That comes with a corrective retrace that cannot break recent highs, then a breakdown. Confirmation is a bit of a dirty word in my view. As I say, certainty from markets at all times is zero. The trader must learn to live with probability, not certainty and focus on risk to reward edge, vs. continual directional edge. But I want to say that the market can still break what I am currently seeing.
by Ryan Wilday - 5 years ago

Market Analysis for Jun 25th, 2019

Greetings from the Crypto Room Today is a good day for my occasional update from the crypto room. When we flashback back to February 2018, I was watching a rally that might keep our 2018 bear shallow. But it failed, and I had to mark $4600-$3000 long term support, as it was the region between two very important fibs on the weekly chart. If you are at all ‘bitcoin aware’ you know we bottomed at roughly $3100 last December, so our long term support held. Against the backdrop of very bearish sentiment, the bolder members in the EWT crypto room and I went long. Now we are up close to 400% in six months.
by Ryan Wilday - 5 years ago

Nightly Crypto Report: Actually Something to Talk About

Today Bitcoin has moved northward in that 5th wave. This now has me looking towards $13K and I can even make out the possibility that we hit $15442.
by Ryan Wilday - 5 years ago

February 2019 bottom - Market Analysis for Feb 6th, 2019

Into the Zone We've come down into the buy zone as expected, but I do believe we need one more Nano low. Roughly $94-96 is what I have in Ethereum. Lower in the $3300 zone is what I expect in Bitcoin. Although of the two, I can more readily argue that Bitcoin has an impulsive structure off the low. If we breach $3440-60 in BTC, and $110 in Ethereum we have the first signals that a low is in. I have updated the targets for the larger swing trade on my chart for the expected levels above. All divergences are so far intact.
by Ryan Wilday - 5 years ago

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