PD_Capital

GLXY...continued consolidation or new bull underway

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TSX:GLXY   GALAXY DIGITAL HLDGS LTD
GLXY has been correcting/consolidating during the last year but is starting to show signs of a potential new bull leg. The upmove from 2020 to 2021 was impulsive in nature (white) and has been correcting/consolidating (purple) forming a slightly downward channel (blue). Price has recently broke above the 55wk EMA (yellow) and needs to stay above there and break the upper channel (low $40s) in order to confirm that a new leg has started, but the structure looks complete and ready. Small long positions with a stop below the 55wk EMA are worth exploring in the short term for a run to the low $40s.

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