The Bitcoin Crash, Part II

One more word on "The Bitcoin Crash." This is an Alert sent out to subscribers mid-day on Tuesday: 

"GBTC: A 5% drop in Bitcoin has caused GBTC to fall 25% off of last week's highs and has resulted in it dropping to trend line support at $740. Aggressive traders can buy GBTC anywhere above $740, while using that level as a stop. If the stop is hit at the close, exit and go back to cash. This would be a low-risk trade even for this very volatile ETF. Be disciplined on both the entry and exit here." 

This Alert was sent out when GBTC shot back up from a low of $663 crossing above the Blue Trend Line at $740 24 hours later it's trading above $850.

"Blue Line"..has a kind of ring to it, doesn't it? 

 

PS: GBTC is still a Buy, using the trend line at $740 ( Wednesday) as a stop. 

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