GRTUSD - Accumulation Area - Recovery Rally Plan(s)GRT is still in this wonderful accumulation zone, and I hope that you all have had a chance to grab some here.
There is a good enough case to say that this is the bottom, but there is also a good enough case to say that this is just a stop before one last washout, too. The Fibonacci's are giving me a good suggestion that these potential ideas may play out.
I do think that this is at least an intermediate bottom where we will see a nice sized recovery rally. This could serve as an area for a big swing trade, or also a good area to just accumulate for the rest of this cycle once it resumes.
This idea is anticipating a potential recovery rally to the top of this accumulation zone at approximately 90 cents to 1.00 area. This would be where it may fail at the trendline and S/R.
I would think there is a good possibility that we do a bigger recovery rally where we test the major S/R in the 1.20-1.50 area. Then if that fails (where BTC fails to establish support above the 20 week MA), this would provide us the trip down to the final washout destination, which I think could be anywhere from 10-30 cents.
Of course, we may just go bullish from here, or we may just collapse and die, too.
This is my personal plan, and hope that it is helpful.
Thanks!
