GRTETH trade ideas
Trading Ethereum against Graph to test my own stupidityAndddd I'm back! Here I traded some eth hoping for a continuation of the bull trend. The sell sign looks exhausted - but it's crypto and anything can happen. I think the graph has neared capitulation and is possibly starting a sideways consolidation in a longer crypto bullwave. The metaverse brought alot of pizazz, but web3.0 is where the wild west is headed.
Ether is strong, but I suspect volatility will remain and the graph is a small project with significant backing and support. I will close this for about 8% gains, or a 3% loss if it goes against my support line. Tight support and get out if it runs against you!
$GRT / $ETH primed for take off! $GRT (The Graph) is a crypto protocol for indexing and querying block chains, lending to its fitting narrative as “Google of the Blockchain”. Crypto traders look at token evaluations against bitcoin and ethereum ($ETH) in order to justify positions they think will outperform the two former mentioned largest market cap assets.
In this chart, I depict that I think The Graph is primed for take off against Ethereum as it has bottomed and respecting trend lines. When this breaks out, it might break out aggressively to the upside.
Update it📝There was this idea before but to make sure that you didn't miss it let me republish it again.
Turns out that this triangle became extended.
All the waves are done and the price is heading to the breakout.
So follow this chart and look for the breakout.
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And always remember: "we don't predict, we react".