GRAYSCALE BITCOIN TRUST (BTC) GBTC

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Type:	Stocks
Ticker:	GBTC
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GRAYSCALE BITCOIN TRUST (BTC) GBTC - Daily - Technical analysis published on 10/22/2020 (GMT)

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Timeframe : Daily
- Analysis generated on
Status : TARGET REACHED

GRAYSCALE BITCOIN TRUST (BTC) GBTC - Daily

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GRAYSCALE BITCOIN TRUST (BTC) GBTC Chart

Summary of the analysis

Trends

Court terme: Strongly bullish

De fond: Strongly bullish

Technical indicators

94%

My opinion

Bullish above 13.48 USD

My targets

14.75 USD (+3.15%)

17.08 USD (+19.44%)

My analysis

The bullish trend is currently very strong on GRAYSCALE BITCOIN TRUST (BTC) GBTC. As long as the price remains above the support at 13.48 USD, you could try to benefit from the boom. The first bullish objective is located at 14.75 USD. The bullish momentum would be boosted by a break in this resistance. Buyers would then use the next resistance located at 17.08 USD as an objective. Crossing it would then enable buyers to target 38.07 USD. Be careful, given the powerful bullish rally underway, excesses could lead to a possible correction in the short term. If this is the case, remember that trading against the trend may be riskier. It would seem more appropriate to wait for a signal indicating reversal of the trend.

Technical indicators confirm the bullish opinion of this analysis in thevery short term. However, be careful of excessive bullish movements. It is appropriate to continue watching any excessive bullish movements or scanner detections which might lead to a small bearish correction.

Force

8.8

Comment on the analysis

Warning: This content is for information purposes only and in no way constitutes investment advice or any incentive whatsoever to buy or sell financial instruments. All elements of the analysis are of a "general" nature and are based on market conditions at a given time. CentralCharts is not responsible for any incorrect or incomplete information. Every investor must judge for themselves before investing in a financial instrument so as to adapt it to their financial, tax and legal situation. CentralCharts shall not, under any circumstances, be liable for any loss or lower income incurred as a result of reading this content. Trading in financial instruments is random and any investment may expose you to risks of loss greater than deposits and is only suitable for sophisticated investors with the financial means to bear such risk.

This analysis was given by amclaugh.

Additional analysis

Quotes

The GRAYSCALE BITCOIN TRUST (BTC) GBTC rating is 14.30 USD. On the day, this instrument gained +7.44% and was traded between 13.79 USD and 14.49 USD over the period. The price is currently at +3.70% from its lowest and -1.31% from its highest.

13.79

14.49

14.30

The Central Gaps scanner detects the formation of a bullish gap marking the strong presence of buyers against sellers at the opening. This formed a quotation gap.

Opening Gap UP

Type : Bullish

Timeframe : Openning

Here is a more detailed summary of the historical variations registered by GRAYSCALE BITCOIN TRUST (BTC) GBTC:

The study of the highest / lowest by the Central Records scanner shows the following results:

Near a new HIGH record (1 year)

Type : Bullish

Timeframe : Weekly

Near a new HIGH record (1st january)

Type : Bullish

Timeframe : Weekly

Technical

Technical analysis of this Daily chart of GRAYSCALE BITCOIN TRUST (BTC) GBTC indicates that the overall trend is strongly bullish. The signals given by the moving averages are 89.29% bullish. This strong bullish trend is confirmed by the strong signals currently being given by short-term moving averages. There is no crossing of moving average by the price or crossing of moving averages between themselves.

In fact, according to the parameters integrated into the Central Analyzer system, 17 technical indicators out of 18 analysed are currently bullish. Caution: the Central Indicators scanner currently detects an excess:

CCI indicator is overbought : over 100

Type : Neutral

Timeframe : Daily

Other results related to technical indicators were also found by the Central Indicators scanner:

Pivot points : price is over resistance 3

Type : Neutral

Timeframe : Daily

Pivot points : price is over resistance 3

Type : Neutral

Timeframe : Weekly

An analysis of the price chart with the Central Patterns scanner (detector of chart patterns and resistances and supports) shows a result that can have an impact on the price change:

Resistance of channel is broken

Type : Bullish

Timeframe : Daily

The Central Candlesticks scanner which studies Japanese candlesticks did not detect anything.

ProTrendLines

Price

	S3	S2	S1	Price	R1	R2	R3
ProTrendLines	9.29	10.88	13.48	14.30	14.75	17.08	38.07
Change (%)	-35.03%	-23.92%	-5.73%	-	+3.15%	+19.44%	+166.22%
Change	-5.01	-3.42	-0.82	-	+0.45	+2.78	+23.77
Level	Major	Intermediate	Intermediate	-	Intermediate	Minor	Major

Attention could also be paid to pivot points to set price objectives:

Daily

Pivot points	S3	S2	S1	PP	R1	R2	R3
Standard	12.18	12.43	12.63	12.88	13.08	13.33	13.53
Camarilla	13.21	13.24	13.27	13.31	13.34	12.91	12.95
Woodie	12.77	12.93	13.13	13.28	13.48	13.64	13.84
Fibonacci	12.92	13.06	13.14	13.28	13.41	13.50	13.63

Weekly

Pivot points	S3	S2	S1	PP	R1	R2	R3
Standard	10.88	11.41	11.92	12.45	12.96	13.49	14.00
Camarilla	12.14	12.24	12.34	12.43	12.53	12.62	12.72
Woodie	10.87	11.41	11.91	12.45	12.95	13.49	13.99
Fibonacci	11.41	11.81	12.05	12.45	12.85	13.09	13.49

Monthly

Pivot points	S3	S2	S1	PP	R1	R2	R3
Standard	5.05	7.52	9.25	11.72	13.45	15.92	17.65
Camarilla	9.82	10.20	10.59	10.97	11.36	11.74	12.13
Woodie	4.67	7.34	8.87	11.54	13.07	15.74	17.27
Fibonacci	7.52	9.13	10.12	11.72	13.33	14.32	15.92

Numerical data

The following is the status of the technical indicators and moving averages at the time of publication of this technical analysis:

Technical indicators

Moving averages

RSI (14):	70.85
MACD (12,26,9):	0.4000
Directional Movement:	23.31
AROON (14):	92.86
DEMA (21):	12.62
Parabolic SAR (0,02-0,02-0,2):	11.91
Elder Ray (13):	1.46
Super Trend (3,10):	12.05
Zig ZAG (10):	14.18
VORTEX (21):	1.0700
Stochastique (14,3,5):	94.11
TEMA (21):	13.12
Williams %R (14):	-3.06
Chande Momentum Oscillator (20):	2.81
Repulse (5,40,3):	3.1900
ROCnROLL:	1
TRIX (15,9):	0.0800
Courbe Coppock:	34.34

MA7:	12.81
MA20:	11.83
MA50:	12.31
MA100:	11.65
MAexp7:	12.94
MAexp20:	12.25
MAexp50:	12.00
MAexp100:	11.59
Price / MA7:	+11.63%
Price / MA20:	+20.88%
Price / MA50:	+16.17%
Price / MA100:	+22.75%
Price / MAexp7:	+10.51%
Price / MAexp20:	+16.73%
Price / MAexp50:	+19.17%
Price / MAexp100:	+23.38%

Quotes : 2020-10-21 19:59:59 - 15 min delayed data - NASDAQ OTCBB

This member declared not having a position on this financial instrument or a related financial instrument.

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