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GVTBTC

GVT 5/5I has come up with this possible second scenario. Charting is about find every single possible scenario before it happens, so we can act with anticipation. For this second scenario, which is quite bullish compared to the previous one, we are in a falling wedge (duh obviously) and we are nearly done with correction, in wave 5 of C wave, down to the green box (0.618-0.65 fib lvl) and there we go, the start of wave 3! Excited! So, if you want to play safe, long at the break out point of the falling wedge, that's the safest way to go. A break out of the falling wedge indicates uptrend, and we will see it retests the previous wave 1 (28500-29000).
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by DesWong
2
gvt 4/5Has been very busy these few days and never have the time to really look into charts. The chart is solely based on elliott wave, I'm a new beginner on EW, so don't take my target seriously. So from what i has charted, we are now in correction and almost done with wave A correction, we could see a short term uptrend back to 26600-27500ish target and then correct down to 24000 region ( which I find there are lots of confluence here). The most important thing about correction is, it is hard for us to gauge how long it is going to take. Also the target i provide above is based on ABC correction, it could go to XYZ or even WXYZ correction, which are both extended correction, but I don't think this is likely as the alpha apps will be live in this month, which could also be one of the factor to end this correction quickly.
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by DesWong
Genesis Vision (GVT) short term – The break-out, and the targetsIn my previous post I explained very quickly that GVT was finally in for a break-out of its' triangle formation. Minutes later it broke out and will now likely retrace a little before the bounce-off. That brings me to the next part of the story – the targets and the overall chart picture. Chart of previous post yesterday, where I called the break-out: Daily chart: First off, you can see that in (1), the longer term support was reached, almost coinciding with the triangle base. That strong support and the changing momentum has now pushed GVT through the triangle resistance in (2). Moreover, if we look at the overall chart, we see that GVT has actually been in a relatively wide upward channel / trading range. And, GVT fell through the support of that trading range beginning of April. In general, we could reasonably expect that the price will revert to that “mean” trading channel. And hence, it should actually minimally be trading at around 35000 sat today (point 3), to be in the lowest area of that upward trend channel. That would already mean a big increase from today’s levels! If we look at the Fibonacci retracement lines, I drew them from the All time high (4), to point (1). The next pricing targets are: 29904 sat 32273 sat 34642 sat 38014 sat 42310 sat You could place your sell triggers at those levels gradually and according to your risk appetite. Can we still fall back? Yes, it’s always a matter of scenarios. But here the bulls are in favour, and we still have a strong support at 24000-ish. In the meanwhile, don’t be too surprised if you see the price tracing back before increasing, which is very normal for triangle break-outs. Best of luck,
GLong
by A_Cryptastic_Mind
2
GVT 3/5On a 2 hour chart, a hanging man has formed with its wick hit on the resistance and a doji with high volume have formed, RSI is overbought as well, it indicates the bull has lost its steam. So, a temporary correction is due. The previous 25700 strong resistance has now become a strong support, expect a bounce from there. Again, it is not financial advice and this chart is mainly for people who day-trade or swing-trade. For long term investor, you can ignore this short term price fluctuation.
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by DesWong
GVT LONG TERM PLAY(MONTHS)In a daily timeframe, it is still hovering around the golden zone(0.618-0.65 fib retracement lvl), wave 4 is still valid based on elliott wave. We can see wave 3 has reach 1.618 fib extension, so we can assume wave 5 can reach 2.618 fib extension(64000-65000sats). My previous target which is around 50000sats. 50000sats is more of a conservative target and this is CRYPTO so anything is possible. Also, we can see it bounces off from 22000sats as this is a strong support that previously was a strong resistance for wave 1 to break thru, however, I wouldn't surprise if it goes to 18000-20000sats(0.786 fib retracement lvl) as we have recently got rejected by the 55EMA. So don't freak out if it goes to that price because we know in a bigger picture GVT is still in an uptrend.
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by DesWong
GVT 30/4As expected from my prev chart, the volume is not convincing and it did retrace to retest the breakout zone of the triangle. From a chart patterN point of view, a bull flag is forming, a break out of this flag might signal the next target which is around 27000-27500, according to the length of the pole and also the major resistance. From the elliott wave point of view, we are now currently under wave 4, and once wave 4 is done (we might enter a short term consolidation phase or we might just shoot out from here, coz we couldn't project time and volume can kick in at any time, we will see another wave 5 up, target is almost the same as above 26500-27500, where the resistance lies. *The few arrows show 25700 is a major resistance and we need quite some volume to break it IMO.
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by DesWong