After hitting bouncing off my 31ish target, ETCG (Ethereum Trust) has now hit my 22.44 target where a reaction is likely before the next leg down (note: with GBTC still slightly above the 24.13ish target, ETCG could make a slight momo-fueled overshoot of the 22.44 support/target). Previous daily charts, starting with the May 19th sell signal/breakdown followed by the June 11th tag of the 31ish target & today’s updated daily charts below.

ETCG daily May 19th.png

ETCG daily May 19th.png

ETCG daily June 11th

ETCG daily June 11th

ETCG daily June 22nd

ETCG daily June 22nd

Likewise, GBTC (Bitcoin Trust) is coming up on T3 (24.13ish) where a reaction is likely & potential divergences forming between price & the momentum indicators. Previous & update charts below, starting with the sell signal posted back in Feb 22nd, right off the all-time highs in Bitcoin, followed by the May 19th update & today’s daily chart.

GBTC daily Feb 22nd

GBTC daily Feb 22nd

GBTC daily May 19th

GBTC daily May 19th

GBTC daily June 22nd

GBTC daily June 22nd

Bottom line: The odds for a reaction (bounce and/or consolidation) on or around the initial tag of these price targets are favorable, therefore ETCG & GBTC provide objective long entries here with stops somewhat below those support levels. At this time, I am only looking for a tradable bounce followed by another leg down although with potential (but unconfirmed) positive divergence forming on GBTC as it approaches T3, a case can be made for a more lasting bottom although it’s still too early to make that case with a high degree of certainly.