A recap over weekend price action. Prices were trending downwards because of the sharp red candles showing lower lows. $225 was the area before the price hike and a key zone to watch indicating a strong breakdown.
After falling into a low of $213.92, buying pressure broke $216 resistance which indicated a good long opportunity for those quick on the trigger.
GBTC may start trading anytime this week and traders are most likely buying on the rumour. The Trust has some bids as high as $400 per coin.
Will ride this wave up, reassess if we hit $230's and wait to see what happens when the Trust is officially trading. If prices go parabolic I will sell on the news. ;-)
Note: I put in a stop order at $218 as an exit strategy if prices fall.
After falling into a low of $213.92, buying pressure broke $216 resistance which indicated a good long opportunity for those quick on the trigger.
GBTC may start trading anytime this week and traders are most likely buying on the rumour. The Trust has some bids as high as $400 per coin.
Will ride this wave up, reassess if we hit $230's and wait to see what happens when the Trust is officially trading. If prices go parabolic I will sell on the news. ;-)
Note: I put in a stop order at $218 as an exit strategy if prices fall.