Foreign [Music] Video about gbtc Um we take a look at the the price we Still have a discount over over Bitcoin Generally here Um it's been a while since I've made the Last video but a few people wanted sort Of a continuation with that so just keep You updated about gbtc in the last video We talked about I think I remember Whether we talked about a possible Turnaround down here in a wave 5 that Happened we actually saw a five wave Turn around I did update channel members On Telegram and Discord regularly about Gbtc we saw the fifth wave that we've Been waiting for we then dropped below The trend time that was our sort of Short signal or Trend reversal signal And I think we are now following here an ABC correction into this support area And then we've got a bed at one two Setup this could be and I'm not telling You to buy but it could be a possible Long trade area you know one two setup That is how generally People who trade with Elliott waves Would understand this a one-two setup is A possible long trade one of the best Setups you get where you can buy in the Support area yeah support is here Between 7.86 to 8.39 between the 78.6 FIB level and the 50 FIB level
Um with obviously support at 839 8 17. That's by the way the 61.8 percent FIB Level and then yeah as I said 7.86 it Should not drop below that level then Um this pattern is most likely not going To play out but we've got a nice five Wave move up we have a possible Three-way move down I currently see this As a wave b top that we made at 8.90 Very well happy to change my view but This is sort of how I see it Um at the moment yeah this would change If if we get above 890 we have if we Move above 8.90 I would have to Reconsider my view and would say maybe We get the wave beat up a little bit Higher And then yeah then we should come down In wave C and if if the wave b top is in Place already then we can actually and That's the good thing we can actually Calculate a target for that wave c Um and the key Target key would be 8.12 The one to one ratio that would be the Key Target I mean the 1.618 extension is Sort of the next Target that's 763 but That is already so low while it would Not invalidate the possible one two Setup it would get really really close To invalidation and from experience I Can tell you that if we come down that Far To invalidation it's most likely not Going to work out so however the the
Beauty of these patterns is that um The Wave 3 is the most uh well let's call it The most bullish wave to to trade Normally And I can give you a rough estimation or Let's say depending on how low we go but Sort of a possible worst case Target for Away three would be 109 D4 or 1094 1095 That's not bad Um And bear in mind there should then still Be the way five to come which might or Will should move even higher right so Maybe into the 12 to 13 dollar range so It could very well be that gptc has Changed Trend it's very early to say That we haven't made new highs and um or New uh we haven't made High highs or Higher lows not in the larger structure But it's starting to look interesting Okay so I wanted to keep you updated About gbtc Um if you liked it please hit the like Button leave a comment and subscribe and If you really like the content then Please check out the channel membership Thanks a lot for watching bye [Music] Thank you