We looked at GBT last Tuesday. GBTC broke bullishly higher after consolidating for the prior 3 weeks. We discussed that while breakouts that occur in the timing band of a daily cycle decline are not usually sustained and often any gains are given back.
As it turns out, Tuesday was the daily cycle peak. After consolidating for 4 days, GBTC broke bearishly lower on Monday. GBTC broke below the daily cycle trend line to close below the 10 day MA to signal the daily cycle decline. GBTC should go on to turn the 10 day MA lower as it seeks out its DCL. GBTC is currently in daily uptrend. GBTC will remain in its daily uptrend unless it closes below the lower daily cycle band.
Cycle Trading 
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