The VoSI VooDoo ReportOffbeat Ideas and Commentary from the Depths of Gil's Trading NotesThe
Grayscale Bitcoin Trust (GBTC) is working on two entry signals here as it tries to work its way off its recent lows. In addition to the original big-volume bottom-fishing pocket pivot of late October, GBTC has now posted a combination U&R through the prior 10.55 low as well as a pocket pivot at the 20-dema and 50-dma. This becomes actionable here using the prior 10.55 low as a selling guide. Bitcoin has been selling off over the past few days with precious metals as Fed heads sound off about no further rate cuts, but as it stabilizes here it is showing some bullish price/volume action.
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