GBTC printed a bullish reversal on Tuesday.
Tuesday was day 27 for the each day GBTC cycle. That locations it in its timing band for a each day cycle low. Tuesday’s bullish reversal eases the parameters for forming a swing low. A swing low and shut above the February resistance stage would have us label day 27 because the DCL. A break above 13.52 will kind a swing low.
Since rallying out of the late July low, GBTC has been in a each day uptrend which has been characterised by highs forming above the higher each day cycle band and lows forming above the decrease each day cycle band. If the swing low types above the decrease each day cycle band then GBTC will stay in its each day uptrend and set off a cycle band purchase sign.