The stock has continued to soar higher to a new higher high level. This was possible after the pair broke out of a key resistance level
Supply levels: $8.7, $10.6, and $12.6
Supply levels: $8.7, $10.6, $12.6
Demand levels: $6.2, $5.0, $3.8
GTBC Medium-term Trend: Bullish
GBTC bullish market gap during the weekend has made its bullish outlook is not negotiable, the stock was able to defy the price resistance level of $12.6, and is in a no man’s land area, trying to establish a new higher high level.
From the daily chart, it is obvious that the Exponential moving Averages are widely opened for a bullish market and the Bars of the Histogram is indicating a bullish market trend.
GBTC Short-term Trend: Bullish
The short-term analysis of the trend is bullish, there is an indication that the market has broken out of a major resistance level and is set to create a new record higher high.
The 4-hour chart indicates that the 14 and 50 Exponential Moving Averages are in a bullish position, and the MACD Histogram bars and signal lines are all pointing up, for a bullish trend.
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