Galaxy Digital Holdings Stock is Starting to Breakout: Technically Speaking by Dwight Galusha

Galaxy Digital Holdings Ltd’s (TSX:GLXY) price action is bullish and suggests a continuation of the uptrend

Dwight Galusha | October 27, 2021 | SmallCapPower: Galaxy Digital Holdings Ltd. (TSX:GLXY) is starting to breakout from a multi-month consolidation/continuation pattern. This price action is bullish and suggests a continuation of the uptrend. A suggested initial protective stop-loss order could be placed at the 20.20 price label in case of market failure.

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Galaxy Digital is a diversified asset management firm dedicated to the digital assets and blockchain technology industry. The firm manages capital on behalf of external clients in three distinct business lines: Index Fund Management, Blockchain Ecosystem Funds, and Opportunistic Funds. Galaxy Digital Capital Management’s multi-disciplinary team has deep experience across active and passive portfolio management, capital markets, operations, and blockchain technology.

Galaxy earns a large share of its revenue servicing businesses and other institutions.

The company is a subsidiary of Galaxy Digital Holdings, which was founded by Michael Novogratz, a former Principal and Chief Investment Officer of the Fortress Macro Funds, and a former Partner at Goldman Sachs.

On October 4, 2021, Galaxy Digital reported preliminary assets under management of US$2.2 billion as of September 30, 2021, a 5% month-over-month increase.

Dwight Galusha is a Chartered Market Technician (CMT) whose work can be found at www.SetYourStop.com

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