The GBTC (Bitcoin, or /BRR Bitcoin futures or /MBT Bitcoin micro futures) short setup posted yesterday has triggered a sell signal/objective short entry on today’s breakdown below the 60-minute bearish rising wedge pattern. Previous (yesterday) and today’s updated 60-minute charts below.
GBTC 60m Nov 2nd
GBTC 60m Nov 3rd
/MBT, the Micro Bitcoin futures contract, tracks Bitcoin just like its big brother, /BRR but utilizing a smaller multiplier (leverage factor) of 0.1 vs the 5.0 multiplier (i.e. 5x the current Bitcoin price of $34,750 or a total net short exposure of $173,750/contract) so only about a $3,475 exposure per /MBT contract.