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GRT / Bitcoin
Long
Updated

Long GRT/BTC for recovery rally - approx 20%

128
GRTBTC is at the bottom of its accumulation zone.

I think that they are going to test the trendline again. This will give us the answer of if they are going to bottom it here or not depending on how it reacts to the trendline on this relief rally.

For satoshis, I'd say there is a safe 20% or so here around the top of this zone/by the trendline.

Assess thereafter.

Thank you!
Note
snapshot On the Bittrex Chart, there are some nasty down wicks, which makes me think that they might go down there eventually. So please be cautious with this and don't lose your sats for a risky trade. Only do this if you manage your risk.
Note
snapshot OK - so it may bleed a bit further here. 1300ish sats is looking good if they make a new low with it.
Trade active
snapshot It is still on - just went to the very bottom of the accumulation zone. Still a great time to get in IMO.
Trade active
snapshot Another view of GRT/BTC - My expectation would be a failed rally, and then ultimately ending up at the 6.85 around 943 sats.
Trade active
snapshot Looking promising for the start of an uptrend (short term) / recovery rally.
Trade active
snapshot Looking good, as we confirmed local support. The downtrend is awfully close to being tested. Will need to pay close attention to it.
Trade active
snapshot It went for the downtrend - and a pretty big rejection from it as of now.
Trade closed: target reached
snapshot Unfortunately, I think that the recovery rally is over for now. We have a short term trend break, and BTC is still looking like it wants to go find buyers at a lower area.
Trade active
snapshot pretty sure that we take a another stab / peak up and out of the downtrend.
Note
GRTBTC could be construed like this currently - and we may see a nice recovery rally here. I still expect us to go to lower levels, though
Dawnchorus
FibonacciSupport and ResistanceTrend Lines

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FibonacciSupport and ResistanceTrend Lines
Dawnchorus

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.