GBTC is very useful tool for predicting BTC moves. To be honest, I don´t exactly know, what Grayscale Bitcoin Trust is, but I think it´something like stock for big investors, that want to buy BTC. There are quite a lot differences to other charts of BTC/USD, so sometimes even wave count on lower timeframes is different, comparing to other chart of BTC/USD.
When I zoom out and do eliott wave count from all time high, I see only one valid eliott wave count. And this count is super bullish. If I am right, then corrective wave 2 is finished or very close to be finish. And then we should see 3rd wave, which is usually the strongest wave in 5- wave cycle.
Short term, I would really love to see price going below previous low, to finish that 2nd wave ( but NOT BREAKING INVALIDATION LEVEL !). But if you are long term investor and want to hold it for few years, I think it´s great time for buying.
When I zoom out and do eliott wave count from all time high, I see only one valid eliott wave count. And this count is super bullish. If I am right, then corrective wave 2 is finished or very close to be finish. And then we should see 3rd wave, which is usually the strongest wave in 5- wave cycle.
Short term, I would really love to see price going below previous low, to finish that 2nd wave ( but NOT BREAKING INVALIDATION LEVEL !). But if you are long term investor and want to hold it for few years, I think it´s great time for buying.