この記事を共有
Shares of Grayscale Bitcoin Trust Form Bullish Chart Pattern: Technical Analyst
The bullish reversal pattern would open doors for a 50% price rally, chart analysts said.
Make us preferred on Google
The future looks bright for the battered Grayscale Bitcoin Trust shares (GBTC), a technical analyst told CoinDesk, pointing to an inverse or reverse head-and-shoulders pattern on GBTC's price chart.
The reverse head-and-shoulders structure is identified by three price troughs formed along a resistance line, with the middle trough being the lowest and the other two relatively smaller and similar in depth.
STORY CONTINUES BELOW
The occurrence of the pattern after a prolonged and notable downtrend, as in GBTC's case, is said to signal a potential bullish trend reversal. The bullish shift is confirmed once prices top the common resistance line, called a "neckline" by technical analysts.
GBTC jumped to a six-month high of $13.54 Wednesday, testing the neckline resistance of the reverse head-and-shoulders pattern on the daily chart. A close above the neckline hurdle would confirm the breakout, opening the doors for further gains.
"Both anatomically and structurally, we do recognize an inverse head-and-shoulders pattern necklined around $13.00," Goncalo Moreira, a chartered market technician and author of VocabTA, said.
"The reversal formation would be fully confirmed with a daily close above this level, with a measured objective at $19.00, almost a 50% gain," Moreira added.
Grayscale is a subsidiary of Digital Currency Group, CoinDesk's parent company.
The bullish pattern has been in the making since early September and comes after a more than 80% price slide. A breakout and a subsequent expected rally to $19 would fill the price gap between $15 and $18 created in June last year when the shares were trending south.
GBTC has rallied more than 17% this week, decoupling from weakness in bitcoin's (BTC) price, thanks to the U.S. court questioning the Securities and Exchange Commission's rejection of Grayscale's attempts to convert the trust into a spot-based exchange-traded fund.
On Tuesday, the panel of appeals court judges appeared to be skeptical of SEC's logic of drawing a distinction between bitcoin spot market prices, which it considers prone to manipulation and futures market prices while rejecting Grayscale's spot-based ETFs. That has revived hopes of an eventual victory for Grayscale and the launch of a spot-based ETF.
"If judges turn more favorable, then there is the chance that GBTC Trust shares can be converted into an ETF. In that case, the discount in GBTC shares relative to the fund's net asset value could be quickly arbitraged away, and that's why GBTC shares are rallying now," Markus Thielen, head of research and strategy at crypto services provider Matrixport, noting the bullish pattern on the technical chart.
あなたへの
Pudgy Penguins is building a multi-vertical consumer IP platform — combining phygital products, games, NFTs and PENGU to monetize culture at scale.
知っておくべきこと:
Pudgy Penguins is emerging as one of the strongest NFT-native brands of this cycle, shifting from speculative “digital luxury goods” into a multi-vertical consumer IP platform. Its strategy is to acquire users through mainstream channels first; toys, retail partnerships and viral media, then onboard them into Web3 through games, NFTs and the PENGU token.
The ecosystem now spans phygital products (> $13M retail sales and >1M units sold), games and experiences (Pudgy Party surpassed 500k downloads in two weeks), and a widely distributed token (airdropped to 6M+ wallets). While the market is currently pricing Pudgy at a premium relative to traditional IP peers, sustained success depends on execution across retail expansion, gaming adoption and deeper token utility.
あなたへの
Circle’s biggest bear just threw in the towel, but warns the stock is still a crypto roller coaster
Circle’s rising correlation with ether and DeFi exposure drives the re-rating, despite valuation and competition concerns.
知っておくべきこと:
- Compass Point’s Ed Engel upgraded Circle (CRCL) to Neutral from Sell and cut his price target to $60, arguing the stock now trades more as a proxy for crypto markets than as a standalone fintech.
- Engel notes that CRCL’s performance is increasingly tied to the ether and broader crypto cycles, with more than 75% of USDC supply used in DeFi or on exchanges, and the stock is still trading at a rich premium.
- Potential catalysts such as the CLARITY Act and tokenization of U.S. assets could support USDC growth, but Circle faces mounting competition from new stablecoins and bank-issued “deposit coins,” and its revenue may remain closely linked to speculative crypto activity for years.
Top Stories
