GRT possibly repeating previous structure
Granted there is not a lot of past data on GRT, but I've been trying to find a solid bullish pattern that GRT is forming; unfortunately it has continued to break to the downside. Finally, there may be something there for those GRT fans like myself.
Surely this is a bit of a speculative idea, but GRT could be retracing from the huge pump back in February in a similar pattern to its prior pump back at the start of the year. The last time it bounced off of the lower green trendline (left green arrow) and the MACD crossed shortly after, the huge pump ensued (>1000%) as it broke out of the bullish pennant. Since then, I think it has been following a similar downward trend down to the same trendline bounce and it seems the MACD is ready to cross over if we can get some green candles in the next few days up to $2, it may pop higher.
I believe it was going to do this back on April 15, but BTC dumped and all coins followed, and GRT extended this bullish pennant that it is in.
Now I definitely do not expect the same >1000% move as last time seeing that it was also listed on Coinbase around the same time as the breakout, but I could see a move upwards of 100%-200% by the end of May if it plays out accordingly.
Like I said, this isn't necessarily traditional TA, but I seriously think it could play out given all-season is underway!
After all, this is crypto...
Let me know your thoughts!
PT:
1. $2.90
2. $3.30
3. $3.85
Surely this is a bit of a speculative idea, but GRT could be retracing from the huge pump back in February in a similar pattern to its prior pump back at the start of the year. The last time it bounced off of the lower green trendline (left green arrow) and the MACD crossed shortly after, the huge pump ensued (>1000%) as it broke out of the bullish pennant. Since then, I think it has been following a similar downward trend down to the same trendline bounce and it seems the MACD is ready to cross over if we can get some green candles in the next few days up to $2, it may pop higher.
I believe it was going to do this back on April 15, but BTC dumped and all coins followed, and GRT extended this bullish pennant that it is in.
Now I definitely do not expect the same >1000% move as last time seeing that it was also listed on Coinbase around the same time as the breakout, but I could see a move upwards of 100%-200% by the end of May if it plays out accordingly.
Like I said, this isn't necessarily traditional TA, but I seriously think it could play out given all-season is underway!
After all, this is crypto...
Let me know your thoughts!
PT:
1. $2.90
2. $3.30
3. $3.85
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.