Grin under pressurePrice breaking down lower. Possible retest of the area it broke out from around 35k-40k ?
* i'm feeling abit uneasy that Grin's lead dev( Igno) has missed the last 3x weekly meetings and hasn't been around in public chats for the last 3-4 weeks. Where is he? There's alot of work to be done at the moment with the hard fork next month and not having Igno around seems like a significant loss to the Grin dev team. Hopefully he's back soon with good news.
p.s I'm still very much long term hodl. But short term is anyone's guess.
GRINBTC
GRINBTC has broken the downtrend. What is likely to happen next?Hi,
GRINBTC has made some interesting moves breaking the monthly trendline and pushing towards the 3.6 line of the extended first wave. Here it found its resistance and has broken the trendline to find a better support zone. This is showing the great interest this
particular instrument has attracted. Three weeks until the first hard-fork of GRINBTC , we are looking to identify good places to (re-) enter. Keep in mind that the market has to be in line with the trend to make sure we do not fight against it. We want to be in a flow, patience is the key.
Trend: the downtrend for GRINBTC has been broken. A retest is likely to be formed during the next month.
The first thing to look for would be a monthly close above the red line and a retest of it in the coming time period. Sometimes the market prefers the opening price of the new month or the 05 . of the monthly candle to form a signal. So it makes sense to have a look at lower time-frames also since the end of the month and the quarter is due.
The first zone which usually attracts buyers are the 0.5 and 0.61 Zone of the multiwave . Here investors will be interested in buying again, usually those who are aiming to hold for longer time periods.
However, when looking for an entry we will be watching the price closely and let it reveal its targets. Right now we can say that the correctional wave has found a support on the intersection between the monthly resistance and the 0.5 level. To confirm this as a valid support zone we would like to see a break above the line and retest in the next couple of days. If this does not happen the price is likely to move towards a better support zone , probably around the 0.61 before making another attempt for a breakout.
Essential for entering the trade is a breakout of the common centre line, coloured in yellow.
To make consistent profitable trades it is advisable to use a Top-Down trading strategy and multiple timeframes.
If you would like to know more about technical analyses as well as Top-Down strategy please check out George Beaulieu on youtube.
Thanks for reading. If you would like to see more analyses about this particular instrument please give the thumbs up or leave a comment below.
With care and patience
Heish
GRIN/BTC Bullish Bat Pattern confirmedGrin has just formed a bullish bat pattern (almost perfect in shape and proportions). As theory says, this is a signal of change in direction and Fib levels of CD could be used as resistance/support level. (Same grin/btc bat pattern could be seen throughout all major exchanges)
Hanging in the balanceGrin spiked up on Poloniex on 19/06 to a high around 75155 sats( around $7). This coincided with a Buy alert from a pump ground called Palm beach research group who told their subs to buy Grin up to $7 on Bittrex or Poloniex.
whilst Poloniex hit 75155 the price of Grin didn't make it over 70000 on most other exchanges. Also, to note that the spike up to 75155 took out alot of the sell side liquidity and total Grin sell orders in the Polo book fell dropped to near 100k. However, they immediately started rising after that as miners and others sent coins in Polo following the spike in price. Current total sell orders are sitting at 129k( and earlier today got up to 134k) which is the highest it's been in the past month( Not exactly a bullish sign)
For the TA moon boys, the spike to 75155 lined up with a 78.6 Fib retracement of the downward leg into the ATL. Price is currently sitting on top of channel. Needs to hold here or we're going back to 40000.
Grin/BTC bullish pennantGrin is currently in accumulation phase and forming a bullish pennant on the 0.618 fibonacci line link to my previous analysis this could lead into yet another bullish break out towards 0.786 Fib level.
Grin/Btc Grin crossed 0.618 Fib retracement - bullishGrin has successfully retraced above 0.618 Fibonacci level, which is a positive and a bullish signal. Volume is highest since February and weekly chart shows even a stronger bullish signals. 8 hrs chart just formed a very bullish gravestone doji candlestick (full red,gravestone doji, green) which is again an uptrend signal. Hardfork is coming in July and Grin has entered Top 100 coins, so bulls are in play.
Grin on your face GRIN-BTCGRIN-BTC looks to close above conversion line (blue) for the first time on weekly timeframe...
Which gives a nice bullish signal and a grin on your face after a long downward trend since February '19: the signal is confirmed on the weekly close 00:00 Monday, June 17th.
Basically, it means buy on the week's close if and only if price is above 0.00040961.
The Parabolic SAR switches for this week's candle. Gives an entry signal to go long. Exit long position in GRIN-BTC if and only if the Parabolic SAR switches to below the price action.
Market Facilitation Index - Green this week + last week = Go! = get in and go with the flow.
Divergence in volume and price action. Volume on Bittrex exchange is higher than in the last week of March, however, the price is lower than it was in late March. We should see price action follow volume in the next weeks and push higher toward, or beyond, the fractal at 0.00091615.
$GRIN finally may be forming a bottom (GRIN-BTC)$GRIN has been in a complete downtrend since its listing on kucoin, but it looks like it may now be finally forming a bottom. Grin actually has good fundamentals, and once this coin gets going I expect it to pop. The red box represents a key area where I think we should bounce. Going long here with a stop loss set at .00026, as breaking down through that would invalidate my idea. Lets see if this coin can finally break free and gain some bullish momentum...
Is this $Grin breakout the real deal? Some "back of the envelope” style analysis explaining how the current $GRIN break out differs from the previous March *false break out*
-In March price increased a max of 54% from ATLs, this time price has increased a max of 136%( so far)
-From the March move, price made it’s high after 9 days and then only took 18 days before it made new ATLs again. This time there was alot more consolidation( The initial pump from ATLs pulled back and consolidated with some very small daily range bars and then broke out into new highs which were still being made 30+ days into the move.
-This current move would have looked a lot similar to the March move if price had broken down to ATLs again at the end of May. But it didn’t.
-Those big 2x big thrusts up on 8th & 12th of June had volume close to 2x greater than any other single day reported on Poloniex( the most legit/ largest real volume exchange)
Grin Short term shortBuyers continue to dry up in the Poloniex orderbook. From 22.x total BTC down to 17.x total BTC, while total sellers remain more constant.
When longs get aggressive(cross the spread) and buy up the offer there is no real follow through which results in the wicky looking candle sticks marked by arrows.
I'm still very much bullish long term but objectively hold some bearish short term sentiment. I hope to be proven wrong.
Grin Pull backThere is a big single 9000unit sell order placed on Poloniex @ 41199( biggest sell order I've ever seen hit the book) this is what put pressure on the sell side and pushed price down from recent highs.
TA is for kids. Chart is for the moon boys. Pull back into at-least the channel mid-line @ 35000.
GRIN/BTC it's only beginningHave you secured a nice long term hold bag for GRIN? If not, you maybe have forgotten, that $GRIN is entirely donation funded, and there is no pre-mine.
Either way, it's use case is in development with plenty of funds, and yet to be implemented into major major works. Don't sleep on this, DYOR.
GRIN :(Looking at GRIN on the 4 hour chart
This has been in a downward spiral for a while now
Looking for price down near the 1.618 area
Willy is stupidly over sold and embedded
Histogram has a potential div working on a longer time frame
OBV looks like death and in the minus zone
POC looks to be around the 70500 sat area on VPVR
Has a potential 43% drop to the 1.618 target
Unless you like catching falling knifes ill wait till a bottom is formed in GRIN before making any moves
* Don't forget to hit that like button and follow me on Trading View for more chart analysis :)
GRIN/BTC - Daily TF (Locking in profits!)GRIN looking promising! A few factors here show a less downward angle, and lower lows are slowing. I've got in 52k - 54k Sats , but as my chart shows the bullish and bearish line for the week. Ultimately what's going to turn me bearish is if it closes below Last Week's Low. But until then i'm hopium on a strong ticket to the upside. 2 days until the week closes. Check back then.
Cheers
GRIN/BTC - Daily TF (Locking in profits!)GRIN looking promising! A few factors here show a less downward angle, and lower lows are slowing. I've got in 52k - 54k Sats, but as my chart shows the bullish and bearish line for the week. Ultimately what's going to turn me bearish is if it closes below Last Week's Low. But until then i'm hopium on a strong ticket to the upside. 2 days until the week closes. Check back then.
Cheers
GrinHello crypto community,
I recently got acquainted with the GRIN project
I liked this project with many things
Private
Grin has no amounts and no addresses. Transactions can be trivially aggregated. To hide where a newly created transaction comes from, it gets relayed privately (a "random walk") among peers before it is publicly announced.
Scalable
MimbleWimble leverages cryptography to allow most of the past transaction data to be removed. This guarantees Grin won't collapse under its own weight in the long term.
Open
Grin is developed openly, by developers distributed all over the world. It's not controlled by any company, foundation or individual. The coin distribution is designed to be as fair (but not gratis) as is known to be possible.
grin-tech.org
coinmarketcap.com
Technical analysis
We find bottom
Start growing
Correction 61.8% fibonacci
Stoch RSI oversold
Volume is grownig
Small Marcket Cap
Moon soon;)
GRIN/BTC - Laddering in Don't sleep on $GRIN
GRIN will be top 100 coin. Mark my words (Sean Connery accent)
--
"Grin likes itself small and easy on the eyes. It wants to be inclusive and welcoming for all walks of life, without judgement. Grin is terribly ambitious, but not at the detriment of others, rather to further us all. It may have strong opinions to stay in line with its objectives, which doesn't mean disrespect of others' ideas.
We believe in pull requests, data, and scientific research. We do not believe in unfounded beliefs."
GRIN ready for more gainsPOLONIEX:GRINBTC has retraced to strong support and 0.786 fib, a hot spot for retracement reversals. Once the descending wedge is broken, look for GRIN to pump to the top of the ascending triangle. This is a young coin and has a lot of growth and cap space to move!
If support breaks, we'll end up at the trend line around 62000 sat or so. STOP @ 60k sat