The GBTC (Bitcoin Trust) swing trade has hit the final price target, T3 at 11.83, for a 36.9% profit. Consider booking partial or full profits and/or raising stops if holding out for additional gains. As this was and still is the final target, GBTC and all previous posts related to this trade will now be moved to the Completed Trades archives where they will be accessible for future reference.
GBTC daily Feb 6th
I usually try to share my thoughts when a final target on a trade is hit & in this case, while I think a decent case can be made for additional upside in GBTC to as high as the 17.00 level in the coming months (another 40% upside if so) the 12ish level on GBTC is significant resistance that is likely to produce a reaction (i.e.- a pullback and/or consolidation) on this initial tag of that level from below, even if we get a brief momo-fueled overshoot before then. As such, I feel it is prudent to either book profits or tighten up stops within 5-8% or so below current levels for those that might want to let the position ride.