Bitcoin and GBTC Bottomed 比特币及GBTC见底

After dropping about 67%( to around 7336 support)  of its previous rally from 4000 to nearly 14000, Bitcoin is exploding upward today with strong volume. It also formed a convincing Bullish Engulfing Pattern. This action fullfilled criteria for a bottom. It is likely going back up to where 50 and 200 day moving averages converge at around 8925 shortly, then 10000 to 11000 area if breaking above 8925. Reasons for today's rally are two folds: Technical and the report that fund inflow to Bitcoin Trust GBTC increased significantly during Q3 ($254.9M Vs $84.8M in Q3). GBTC is up over 14% today at around 9.74 and is above its 200 and 20 day moving averages. Its next resistances is 50 day moving average at 11.22 then 12.

在其从4000 至近14000的升势结束后, 比特币回撤之前涨幅的67％至7336左右的支撑位，今天比特币以大交易量向上暴升。它还形成了令人信服的看涨吞噬模式。这些表现满足了见底的条件。在短时间内它很有可能回升至50和200日移动均线汇聚的价位8925，如果突破8925，则会挑战10000至11000区域。今天上升的原因有两个：技术性和有报道称比特币信托GBTC第三季度资金流入有显着增长（2.549亿美元，而第二季度只为8480万美元）。 GBTC今天上涨了14％以上，达到9.74左右，并且高于其200天和20天移动平均线。它的下面的阻力是50日移动平均线11.22然后12。