Back on 10/15/20 we discussed that GBTC was beginning a new daily uptrend. And that if it formed a swing low that would be a cycle band buy signal. GBTC delivered its buy signal 4 days later.
GBTC delivered another buy signal on Monday.
GBTC formed a swing high on Wednesday then closed below the 10 day MA on Friday to confirm the daily cycle decline. Friday was day 41, placing GBTC deep in its timing band for a DCL. The decline retraced close to 50% fib level, which is certainly enough of a retracement for a DCL.
Since October 12th GBTC has been in a daily uptrend that has been characterized by highs occurring above the upper daily cycle and lows forming above the lower daily cycle band. GBTC formed a swing low on Monday to signal a new daily cycle. Monday’s swing low formed above the lower daily cycle band to indicate that GBTC remains in its daily uptrend and triggers a cycle band buy signal. Stops can now be raised to Friday’s low.
Cycle Trading 
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