While nothing to cheer about just yet as there is still a little work to be done, so far so good with GBTC reversing off my 8.82 downside target/support & now confirming the positive divergence via a bullish crossover on the 60-minute PPO with GBTC up nearly 5% on the day so far. Now awaiting breaks above the two minor resistance levels + the top of the wedge just overhead to open the door to a rally up to T1. Previous (yesterday’s) and updated 60-minute charts below.

Even more important than any developments on GBTC (which tracks Bitcoin but can trade at a discount or premium to it & as such, may provide some minor distortions on the charts) would be a solid breakout above this minor 60-minute downtrend line/triangle pattern on /BRR (Bitcoin futures) which would most likely be the catalyst for a rally up to the 8685 & quite likely the 9340ish/primary downtrend line while an impulsive break below the 7700ish support would be bearish.

BRR 60m Oct 17th

BRR 60m Oct 17th

3+