For the Fundamental Analysis about this project and the company, we agreed with the attached idea. Regardless of your beliefs, it is what this project is about and you should definitely read it.
However, we don't recommend shorting this project yet. We are currently taking NATURAL side and looking for the opportunity.
There are both negative and positive scenarios here. GMTUSDT definitely made a double top pattern. And the price broke below the support neckline. The lower timeframe uptrend hasn't able to start yet. The price dipped below "fib extension" Golden Pocket too. (That golden pocket is also a neckline).
It definitely is still in the higher timeframe (4H) uptrend. It hasn't broken that yet.
However, it seems to bounced back at 0% fib levels and now approaching near the 0.618 level of Fib Speed Resistance Fan. If we have broken above that line, we might see a continued uptrend with the target price of $4.8 ~ $5 where a lot of other analysts are predicting here.
We will take our positions based on the price action of the mass.
Have a nice day.
However, we don't recommend shorting this project yet. We are currently taking NATURAL side and looking for the opportunity.
There are both negative and positive scenarios here. GMTUSDT definitely made a double top pattern. And the price broke below the support neckline. The lower timeframe uptrend hasn't able to start yet. The price dipped below "fib extension" Golden Pocket too. (That golden pocket is also a neckline).
It definitely is still in the higher timeframe (4H) uptrend. It hasn't broken that yet.
However, it seems to bounced back at 0% fib levels and now approaching near the 0.618 level of Fib Speed Resistance Fan. If we have broken above that line, we might see a continued uptrend with the target price of $4.8 ~ $5 where a lot of other analysts are predicting here.
We will take our positions based on the price action of the mass.
Have a nice day.
