GBTC had been consolidating for the past 3 weeks — until Monday.

GBTC broke bullishly out of consolidation on Monday. However it formed a bearish reversal on Tuesday. Tuesday was day 39, placing GBTC in its timing band for a DCL. Typically, breakouts that occur in the timing band of a daily cycle decline are not usually sustained and often any gains are given back. A swing high and close back in the consolidation zone would signal the daily cycle decline.