Grayscale Bitcoin Trust to $10

The above weekly chart has been printing rising wedge patterns since early 2021 resulting in lower high and after lower high. Is this trend about to change? Maybe but not yet..

On the above weekly chart:

1) Price action breaks out of a rising wedge as it has done three times before.

2) Price action prints a weekly gravestone DOJI candle.

3) RSI support has failed and confirmed resistance.

Is it possible price action continues to rise higher? Sure.
Is it probable? No.

Ww

PS: A correction in Grayscale stock does not equal a correction in Bitcoin price action. This is something else. Don’t know what exactly but the charts are not mirroring each other as before with the previous wedges.

Comment:

Receiving a-lot of pushback from this idea from various channels. This tells me one thing, the crowd is long. What does crowd behaviour tell us?

On the TA once more the Gravestone DOJI candle is worth particular attention. Look left at previous prints. Previously they have resulted in momentum changes in price action, they should not be ignored.

Trade active:

Resistance confirmed.