nftrh plus

NFTRH+; BTC/USD & GBTC Pullback Projection

The strenuously overbought Bitcoin (BTC/USD) is finally pulling back from a resistance zone by this weekly chart. The lateral support shelf is shown in green.

bitcoin

The vehicle I used previously (on a trade off the bottom) was GBTC (down 9% today), and if I want to re-position it’s what I’ll use again. This daily chart shows a viable pullback range of 7.35 (50% Fib retrace) to 8.20 (38% Fib) with visual support between them at 7.80. I’d like to consider as close to 7.35 as possible.

gbtc

A reminder that chart based NFTRH+ updates are technical trade setup ideas, which may not be revisited as the technical parameters are already noted. These updates are meant as a starting point for your further research if interested. I will not personally buy every item highlighted and will sometimes sell (ref. Trade Log) any item that I do buy below target (assuming I’ve not stopped out or sold for some other reason) as I often do. Also please be aware that I am not a fundamental stock analyst. Due diligence is your responsibility.