Hello traders!
Today we will talk about GBTC - Grayscale Bitcoin Investment Trust from Elliott Wave perspective, which is telling us where Crypto investors are hiding.
As you can see, in the recent rise, GBTC came to the upper triangle line in three waves A-B-C only, so recovery looks corrective, ideally for wave (d), especially if we consider a triangle in wave...
If you can't buy BTC directly, or have funds in a registered retirement account you'd like to allocate to BTC, GBTC seems to be one of the few choices out there on the public markets.
It typically trades at a premium, and that premium varies over time. During FOMO bubble spikes like late 2017, it gets to insane levels. As of this writing, the premium is below its...