Hey traders, Looking at the daily time frame of ETHE here, if Ethereum can continue its move upwards, we can expect to see a $ 12 price target for ETHE. At the moment, ETHE by itself is -44% Discount to NAV which means you’re essentially buying Ethereum spot price around $1000. The $ 8.78 support level has held and i’m expecting that to before this move up...
Please like and share if you appreciate this market update. We are algorithmic traders and certified Elliotticians. We publish Elliott Wave and algo technical analysis on a daily basis for indices, stocks, cryptos, commodities, VIX, DXY, in weekly, daily and 4-hour timeframes. Our counts are not drawn subjectively but backed by solid algo trading evidence. We...
In the past two weeks, the market has seen a significant increase in bullish momentum leading many to believe that the proposed ‘echo bubble’ that many predicted for 2023 may indeed play out. It was initially unclear what was driving this momentum but the market gaining confidence that CPI will continue to decrease, as well as a temporary liquidity increase...
Grayscale Ethereum Trust and Grayscale in general for that matter, has been beaten down this year, with the clearest example identified in the ETHE Discount or Premium to NAV (Net Asset Value) which is down -51% to par. Given the current spot price of Ethereum (at the time of writing) at $1,321, this would put the spot price of each Ethereum held by Grayscale in...
The past two weeks have been relatively calm as Bitcoin traded in the $16,000 to $17,500 range. It appeared that the contagion effects from the FTX collapse were slowly starting to fade, however in the past few days more information has surfaced surrounding Grayscale Bitcoin Trust (GBTC) and its potential insolvency. On Wednesday GBTC closed down -7.42%, giving...
The past two weeks have been filled with more pain as the contagion effects from FTX have continued to spread and the market has started to get more information on the events that culminated in the FTX scandal. On November 11th, Sam Bankman Fried (SBF) stepped down as the CEO of FTX. Shortly after, John Ray III was appointed as the new CEO, a Chicago-based...
(1) 🔬 Dividing the GBTC price by the BTCUSD price, we have this chart in a downtrend. This indicates that GBTC has underperformed Bitcoin. 🟢 The price spent most of the time in the green rectangle, threatening to break out several times. In March 2021, GBTC broke out of this rectangle. 🟣 Projecting this rectangle downwards, in a new purple rectangle, we have a...
I am providing four support areas for Grayscale Bitcoin Trust (GBTC) in the event that BTC starts to drop significantly. S4 meets the long term bottom trendline, which has the strongest support. I added in VPVR to show volume clusters. What are your opinions on this? Comment below, hit the like and follow me. Thank you! Check out more below for recent Altcoin,...
When it touched this trendline it rose by 400% the first time and 1000% the next. It also rose VERY fast. Pivitol point which could mark the bottom in BTC. Send it.
should have a chance for a couple good months eventually. Maybe late 2022 or early in 2023. The NAV is currently above $8 but the trust spot is at 50% discount when trading under $4
If you believe in LTC, LTCN might be for you. It's currently exposing LTC to you at a discount of ~42%. Let's assume the discount vanishes and LTC reaches old or even new highs. Here's where LTC is going. It's a multiplier on LTCN gains. The lowest graph is the relation between LTCN and LTC - each share of LTCN represents a small amount of LTC. At a ratio of 1...
Ethereum Intraday - We look to Buy at 1731 (stop at 1679) We are trading at oversold extremes. We look to buy dips. 1700 has been pivotal. 1711 has been pivotal. 1731 has been pivotal. Support is located at 1700 and should stem dips to this area. Our profit targets will be 1858 and 1898 Resistance: 1900 / 2000 / 2100 Support: 1800 / 1700 / 1500 Please...
Grayscale litecoin (LTCN) has over a +35% premium discount. it broke below 9. all time high was $485. anything under 10 to me is a huge buy zone/deal. setting up for a possible great bullish run through first quarter and into the new year. we also have dollar dipage (dollar dip/crypto rip) hopefully running with bitcoin esp if it can make its new all time...
Major events There are two major events that will happen the coming months: 1. The merge of Ethereum from proof of work to proof of stake will happen in Q2 (if not delayed again). Then many coins will be unlocked and will cause probably a supply shock. Also a buy the rumour sell the news may happen. 2. The SEC is expected to reach a decision on Grayscale's Bitcoin...
Zcash Idealism: In November of 2016, journalist Morgen Peck showed up at her friend Molly Webster's apartment in Brooklyn, told her to take her battery out of her phone, and began to tell her about The Ceremony, a moment last fall when a group of, well, let's just call them wizards, came together in an undisclosed location to launch a new currency. It's an...
Hello friends, today you can review the technical analysis idea on a 4H linear scale chart for Grayscale Litecoin Trust (LTCN). It seems that based on historical trends, when the RSI is near the overbought region, the price pumps. Could that happen again? If you enjoy my ideas, feel free to like it and drop in a comment. I love reading your comments...
Hello investors and traders. briefly open a short position if the daily candle closes below the EMA. Disclaimer: this is not a piece of financial advice always do your own research.
Hello friends, today you can review the technical analysis idea on a 1D linear scale chart for Grayscale Ethereum Trust (ETHE). The chart is self-explanatory. Price has been moving in a Descending Parallel Channel. It broke down from a Multi-month support line now resistance and may go back up for a re-test. The RSI also looks like it may be going back down to...