I'm going to start tracking the results of a technical risk on and off system for GBTC, and posting signals. I actually don't want anyone following it but you might choose to track. This system is not meant to replace EW but may offer to give a guide on how to relatively position a core. Though one should also micro trade pullbacks and targets because the signal is can be laggy at times. For example you probably shouldn't put on a full core just because we have a buy signal but consider pullbacks after. Since GBTC is long only, I'm looking to get some warning to size down when needed. What I don't know, and doubt is that it can help in the inevitable gap up and down that we see. I'm tracking this in a notebook / spreadsheet, because we haven't built a portfolio around the signal. But I'll post them on the site with the tag GBTCrisk_on_off.
Right now it gave a 'risk on' signal on Friday at $7.58. That's a great example of a signal you wouldn't want to take because it was at the end of a third wave, but it at least says we have a chance trend reversal. I'll do a check each day at open and close. It will not fire that often though.