🚀GMT: runners, are you here? Is it a time to BUY?
Despite the decline of GMT hype, enough buyers can be seen in the volume indicator. The growth of volume bars shows that the big players are still buying. Indeed, if you are a big player, you don't always make money, but we can see the signs of interest now. Will the project be able to surprise traders once again and achieve the goals I will talk about in this idea?
The price return to the previous lows and the key level of $0.81. It`s almost +44%. GMT make the false breakout of the key level but after few hours return above the level. As you know, false breakout is the strong pattern but in this case price show the bullish signs and it`s good for the long traders.
Additionally, the price test the global trendline as a support which is also confirm my thoughts.
📊The closest resistance area is a $0.92-1.06 value are. I think we have to test it and make a pullback for 10-15% to trap the long traders. After this we can open a long with better RR and use trendline breakout as it`s shown ont he chart.
🚩Targets:
🔶1. $0.92-1.06 - closest value area
🔶2. $1.16-20 - value area and mid-term target. GMT can reach this target if BRC helps altcoin and start to rise to $24-25k.
What should we expect from the project? Will it ever return to its highs or can we no longer hope for growth? Write about it in the comments!
💻Friends, press the "like"👍 button, write comments and share with your friends - it will be the best THANK YOU.
P.S. Personally, I open an entry if the price shows it according to my strategy.
Always do your analysis before making a trade.
The price return to the previous lows and the key level of $0.81. It`s almost +44%. GMT make the false breakout of the key level but after few hours return above the level. As you know, false breakout is the strong pattern but in this case price show the bullish signs and it`s good for the long traders.
Additionally, the price test the global trendline as a support which is also confirm my thoughts.
📊The closest resistance area is a $0.92-1.06 value are. I think we have to test it and make a pullback for 10-15% to trap the long traders. After this we can open a long with better RR and use trendline breakout as it`s shown ont he chart.
🚩Targets:
🔶1. $0.92-1.06 - closest value area
🔶2. $1.16-20 - value area and mid-term target. GMT can reach this target if BRC helps altcoin and start to rise to $24-25k.
What should we expect from the project? Will it ever return to its highs or can we no longer hope for growth? Write about it in the comments!
💻Friends, press the "like"👍 button, write comments and share with your friends - it will be the best THANK YOU.
P.S. Personally, I open an entry if the price shows it according to my strategy.
Always do your analysis before making a trade.
Get access to the private club with VIP signals
👉 bit.ly/vip_bikotrading
🔷Telegram 👉 t.me/+ICrmLIneDmRiYjIy
🔷YouTube 👉 bit.ly/YouTube__Lessons
👉 bit.ly/vip_bikotrading
🔷Telegram 👉 t.me/+ICrmLIneDmRiYjIy
🔷YouTube 👉 bit.ly/YouTube__Lessons
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.