gvt 16/5I'm sorry for the bottom that I called (21000-23000) has been breached as I never expected upbit fud will happen (duh i'm not a prophet for this).
So, back to the topic, from the daily timeframe, we can see gvt bounces at 20500-21000, which is kind of close to my bottom LOL, anyway I'm still wrong (500sats away). Thus, 20000sats is a very strong support zone for now despite the ongoing fud.
On the 1hr timeframe, i have come out with 2 scenarios, the above is the one I'm more biased on, I will still post the other in the comment section. Based on the scenario above, we have just finished 5 wave and we are now in correction, the greenbox is the most likely place for a bounce. RSI is decreasing, this indicates the bull has exhausted on the previous run.
GVTETH
GVT THE BOTTOM? I strongly believe we are almost reaching the bottom (21000-23000ish). Let's just see how it plays out in a few days time.
7/5 Detailed breakdown of GVT Description is in the graph.
Up to the time I chart this, the retracement for wave 1 is still pretty healthy IMO. A break below 22000 indicates uptrend failure. Note this.
GVT 5/6BAM! TARGET SPOT ON FROM MY previous chart!
Bounces off from the trendline and made a double bottom.
Wave 2 has done with a 0.786 fib retracement, so now let's see if GVT can break thru 29000sats.
GVT 5/6GVT bounces right at the trendline and let's see if it could make a double bottom from here. Wait for confirmation when it breaks out of the falling wedge. If it breaks down from the falling wedge, the next support zone would be 23000-23200.
Based on the increasing RSI, I'm more biased that it will break out of the falling wedge instead of going down.
gvt 5/5Visually simpler than my previous chart. It is still the same second scenario I propose. Just visually clearer and simpler.
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).
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.
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.
GVT 3/5Wave 3 has reached 1:1 fib extension which is around 27100,
RSI indicates overbought and also bearish divergence, so a correction is imminent (volume is decreasing as well). Based on the 0.618 retracement of wave 2, we can assume wave 4 retracement will be less than that, and also wave 4 cant enter wave 1 territory, so the correction target would be 25700 at most (which appears to be 0.382 retracement).
Chart patter: Hanging man is forming.
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.
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.
GVT 29/4Every indicator is telling me GVT is going to shoot up at anytime. Wait for it to squeeze into the apex of the ascending triangle, a break above the triangle signified uptrend.
GVT 30/4Yes! Shooting up as expected, now the RSI is clearly overbought and we might retrace back to retest the support of 24000 region. The volume spike is not convincing compared to the previous bull run volume so the bulls might not have the steam to keep pushing up in this overbought RSI region.
GVTBTC TA 17/4GVT is still consolidating in the 0.618 fib area and the RSI is increasing, which is a good sign as it now becomes an accumulation zone that will act as a strong support for the next bull run. Please remember that a leg up with an accumulation zone is always positive, without a strong support zone, it might just be a fake bull run and it will descend just as fast. So, for the GVT hodlers, don't feel disappointed that gvt never make a bull run even though btc is recovering, just remember, the longer the accumulation zone, the stronger the bull run would be. Just imagine a spring that is being compressed hard and long enough, the BOUNCE would be significant after it is being released.
Detailed GVTBTCSome people dm me as my previous chart is not explained clearly so I make a new one with a lil wording in it. ;)
Don't take it as a financial advice!
GVT TAthe graphwas done when gvt hits the wave 3. We are now in the wave 4 correction. Right now the candle is holding on the 55ema, if it breaks, the next spp would be around 23000-24000sats (expect a bounce from here), if this lvl holds and we might enter in a consolidation phase and when it is done, the next conservative target would be around 50000sats.
GVT-BTC TargetsBuy in targets 1 and 2 have reached..Now waiting for target 3.
Will it go any lower than .003?
Who knows right..
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GVTBTC - 400% upside potentialBuy on move above 0.010 (this will confirm a cup and handle)
Target 0.040
Stoploss: 0.007
