No. The breakout in GBTC occurred when it took out both the 60-minute downtrend line/bullish falling wedge pattern as well as the 8.63 price resistance level just above it. What happened yesterday was what I refer to as a ‘momentum-fueled overshoot’ of support, which is when a security has a lot of upside (downside) momentum when approaching a resistance (support) level & that momentum briefly carries it beyond the resistance (support) level, followed by a snap-back to or below (above) that level. I use the analog of a pitcher throwing a 95 mph fastball which will cause the catcher’s mitt to briefly snap back when the ball hits it & then it springs back forward.
Although I had set the first target at 9.21, I always set the price targets on long trades slightly below the actual resistance level where I expect a reaction. The resistance zone (two lines in close proximity) that T1 was set below runs from 9.22-9.32 so basically, GBTC just made a slight momo-fueled overshoot of that resistance zone followed by the expected reaction/pullback so far.
As of now, GBTC remains comfortable above the 8.63 support level as well as the downtrend line/wedge so while there aren’t any guarantees that Bitcoin won’t continue much lower from here, it appears this is a normal corrective wave within a larger uptrend with another leg up likely to start soon.

/BRR Bitcoin futures has a support zone plus the downtrend line (possible backtest) that runs from around 7226 down to 7083 which would offer an objective long entry anywhere from the top down to the bottom of that zone but not below it, with stops somewhat below. Here’s my updated 60-minute chart:

Thanks for the update Randy! Appreciate your insight

Should the recent breakout in GBTC stick, with more upside to come as I suspect, it will most likely be just a matter of time before RIOT & OSTK follow. As the 2-year daily chart below highlights, OSTK & RIOT are highly correlated to Bitcoin (GBTC), usually bottoming somewhat after GBTC with the occasional periods of brief disconnects between the positive price correlations. Mid-2019 saw some of the largest disconnects between the correlations but overall, you can see a fairly clear trend of all 3 roughly moving up or down during the major bearish & bullish trends in tandem.