Monday Update: GBTC

The stock market is on hold pending the Fed meeting later this week, while the bitcoin market is heating up, topping $9,000 over the weekend on a report that Facebook (FB) is getting into the crypto business. Grayscale Bitcoin Investment Trust (GBTC) is knocking on the door of a one-year high, trading just below $12.  We are in around $5.00 initially and up to $6.00-$6.50 when the trading  system was generating repeat Buy Signals. The $8.50 stop has held us in through the latest shallow retracement. Based upon the chart below I'm raising that stop to $9.00.