The GBTC trend disposition has changed entirely from a bearish to a bullish one defying all price action setup. The price broke a major daily resistance to set a new higher high level, for a bullish continuation.
Supply levels: $8.7, $10.6, and $12.6
Demand levels: $6.2, $5.0, and $3.8
GTBC Medium-term Trend: Bullish
GBTC Medium-term Trend took a total u-turn to displace the bearish mongers and ended up on the bullish display. The market was able to break the price resistance level of $12.6, which pushed the price to a new higher high setup.
The daily chart shows the signal line crosses and the rising MACD Histogram bars, as well as the price that is above the crossing of the two Exponential Moving Averages 14 and 50, all indication a strong bullish trend.
GBTC Short-term Trend: Bullish
The short-term trend is now a bullish trend after the price broke a major resistance level. The market is now a buy zone, hoping to cap on a new price resistance level.
From the 4-Hours chart, the market price can be seen above the crosses of the two Exponential Moving Averages, and the bars of the MACD histogram is on the rise for a bullish market.
Please note: Dapplife.com is not a financial advisor. Do your own research before investing your funds in any financial asset or presented product or event. We are not responsible for your investing results.