GMTUSDT: DOUBLE BOTTOM INSIDE A WEDGE
This asset has formed a 4H time frame double bottom inside a Daily time frame descending wedge. There are multiple resistance that must be overcome for any possibility of considerable bullish continuation: The neckline of the double bottom, the resistance of the wedge, the 100 day moving average and a daily horizontal resistance. A buy may only be considered safe after beating all these hurdles. If the price succumb to these resistances, it might tumble by about 20% to around 31 cent.
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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.