GRTUSDT trade ideas
GRT has cascade support to the shortThe coin has formed a descending structure in the form of a triangle with the highs being squeezed along the inclined line, which indicates the weakness of the buyer to update these values. Also, the level of support is confirmed by several touches, which indicates the accumulation of participants' stops, due to which I consider the continuation of the movement.
GRTUSDT wants to retest the weekly resistance?GRTUSDT is forming a new inverse head and shoulders pattern, which is a bullish reversal pattern. This pattern is formed by three lows, with the middle low (the head) being lower than the two surrounding lows (the shoulders). The pattern is complete when the price breaks above the neckline, which is formed by connecting the highs between the shoulders. The inverse head and shoulders pattern suggests that the market is transitioning from a bearish trend to a bullish trend, and traders often use it as a signal to enter a long position.
The 0.786 Fibonacci level is a key level for the market, as it represents a significant retracement level. This level is based on the Fibonacci sequence, a series of numbers where each number is the sum of the two preceding ones. The 0.786 Fibonacci level indicates that the market has retraced approximately 78.6% of the previous bullish impulse. This level is important for traders as it can act as a support or resistance level depending on the trend direction.
According to Plancton's rules, if the price breaks above the 0.18 USD area, a new long position until the 0.24 USD level is possible. This rule suggests that the breakout above the 0.18 USD level could signal a bullish trend continuation, and traders may want to consider entering a long position in anticipation of a potential price increase.
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Follow the Shrimp 🦐
Keep in mind.
🟣 Purple structure -> Monthly structure.
🔴 Red structure -> Weekly structure.
🔵 Blue structure -> Daily structure.
🟡 Yellow structure -> 4h structure.
⚫️ Black structure -> <= 1h structure.
Follow the Shrimp 🦐
✴️ The Graph | EW Basics With Potential Targets (0.395 & 0.555+)Here we the chart for The Graph (GRTUSDT) and I can easily spot a flat (3-3-5) correction based on Elliot Wave theory.
This tells me that a bullish impulse (5-3-5-3-5) should follow as shown on the chart.
The wave count is just for illustration purposes as the shape of the wave is quite unpredictable, the levels though are easier to predict.
So far we have the first and second waves complete and expecting the third wave which is normally the strongest in volume.
After the low was hit in November 2022 we see an increase in buy volume, this support the change of trend.
The RSI hit its lowest level ever and is now back in the green.
Namaste.
GRT T-PATTERN & S&R>>>>>>>>>>
I Have Tried My Best to Bring the best Possible outcome in this Chart.
In case GRT price's can Hit and Stablize above COTI top lin of Triangle Pattern's
We have a good opportunity for buyiying position to marked target profit in this uptrend.(red marked zon_strong supply)
PLZ do your own review and set stop first.(alway's buy in correct)
Must important level's marked on the chart.(scroll your mouse on the chart)
It's just an analyze,
Not a financial advise.
PLZ DYOR
With hopping success>>>>>>>>