Learn to Evaluate (GBTC) using the Charts

November 06, 2024, 04:46 am ET, BY Jolene W.- Contributor| Editor: Thomas H. Kee Jr. (Follow on LinkedIn)

Longer Term Trading Plans for GBTC

• Buy GBTC near 48.19 target 56.46 stop loss @ 48.05 Details

The technical summary data tells us to buy GBTC near 48.19 with an upside target of 56.46. This data also tells us to set a stop loss @ 48.05 to protect against excessive loss in case the stock begins to move against the trade. 48.19 is the first level of support below 55.17 , and by rule, any test of support is a buy signal. In this case, support 48.19 would be being tested, so a buy signal would exist.

• Short GBTC slightly under 56.46, target 48.19, stop loss @ 56.62 Details

The technical summary data is suggesting a short of GBTC as it gets near 56.46 with a downside target of 48.19. We should have a stop loss in place at 56.62though. 56.46 is the first level of resistance above 55.17, and by rule, any test of resistance is a short signal. In this case, if resistance 56.46 is being tested, so a short signal would exist.

Swing Trading Plans for GBTC

• Buy GBTC slightly over 56.46, target 57.88, Stop Loss @ 56.3 Details

If 56.46 begins to break higher, the technical summary data tells us to buy GBTC just slightly over 56.46, with an upside target of 57.88. The data also tells us to set a stop loss @ 56.3 in case the stock turns against the trade. 56.46 is the first level of resistance above 55.17, and by rule, any break above resistance is a buy signal. In this case, 56.46, initial resistance, would be breaking higher, so a buy signal would exist. Because this plan is based on a break of resistance, it is referred to as a Long Resistance Plan.

• Short GBTC slightly near 56.46, target 54.79, Stop Loss @ 56.62. Details

The technical summary data is suggesting a short of GBTC if it tests 56.46 with a downside target of 54.79. We should have a stop loss in place at 56.62 though in case the stock begins to move against the trade. By rule, any test of resistance is a short signal. In this case, if resistance, 56.46, is being tested a short signal would exist. Because this plan is a short plan based on a test of resistance it is referred to as a Short Resistance Plan.

Day Trading Plans for GBTC

• Buy GBTC slightly over 56.46, target 57.88, Stop Loss @ 56.33 Details

If 56.46 begins to break higher, the technical summary data tells us to buy GBTC just slightly over 56.46, with an upside target of 57.88. The data also tells us to set a stop loss @ 56.33 in case the stock turns against the trade. 56.46 is the first level of resistance above 55.17, and by rule, any break above resistance is a buy signal. In this case, 56.46, initial resistance, would be breaking higher, so a buy signal would exist. Because this plan is based on a break of resistance, it is referred to as a Long Resistance Plan.

• Short GBTC slightly near 56.46, target 55.14, Stop Loss @ 56.59. Details

The technical summary data is suggesting a short of GBTC if it tests 56.46 with a downside target of 55.14. We should have a stop loss in place at 56.59 though in case the stock begins to move against the trade. By rule, any test of resistance is a short signal. In this case, if resistance, 56.46, is being tested a short signal would exist. Because this plan is a short plan based on a test of resistance it is referred to as a Short Resistance Plan.

Check the time stamp on this data. Updated AI-Generated Signals for  Grayscale Bitcoin Trust (GBTC) available here: GBTC.

GBTC Ratings for November 06:

Term →	Near	Mid	Long
Rating	Weak	Strong	Strong
P1	0	0	48.19
P2	53.46	54.79	56.46
P3	55.14	57.88	65.4

AI Generated Signals for GBTC

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When #institutionalinvestors make decisions to buy and sell #stocks they normally want to keep it quiet.  However, if we pay close attention we can see what is going on, and make good decisions.. The  Grayscale Bitcoin Trust (NASDAQ: GBTC) report below can help you understand how to do this. The trading plans for GBTC, are updated in real time for subscribers, but this report is static. If you want an update, or a different report on a different stock, please get one here Unlimited Real Time Reports.