Hello everyone!
This scenario sounds unbelievable even for me. But there are some factors that make this possible:
1. We are playing with the major support at the moment. Bulls have to hold it if there is some upward movement expected.
2. We are still just above 21 SMMA what indicates bullish market. Hope that it will not be crossed down and close daily candle below.
3. Price is moving in the giant triangle since ATH was reached in February. Suppose that we will not go below our support and 21 SMMA - then it will look like on my chart. If bulls will break it to the upward, this pattern will determine our target about $3.70
4. It is not fully developed yet, but it seems that there will be nice bullish RSI divergence
5. If you look at local highs on GRT, you could notice that there are some quasi cycles which lasts about 25 days each. Next high could be on April 3rd (25 days from last local high).
Yeah, i am aware that there is maybe 10% chance that this scenario will come true... Only time will tell. But in other scenario, if price will break below major support + 21 SMMA + triangle, I will change my attitude to bearish.
Remember, this is not a financial advice, only my point of view (one possible scenario).
You are welcome to comment, discuss and share your opinions. Please also follow me! Good luck!
This scenario sounds unbelievable even for me. But there are some factors that make this possible:
1. We are playing with the major support at the moment. Bulls have to hold it if there is some upward movement expected.
2. We are still just above 21 SMMA what indicates bullish market. Hope that it will not be crossed down and close daily candle below.
3. Price is moving in the giant triangle since ATH was reached in February. Suppose that we will not go below our support and 21 SMMA - then it will look like on my chart. If bulls will break it to the upward, this pattern will determine our target about $3.70
4. It is not fully developed yet, but it seems that there will be nice bullish RSI divergence
5. If you look at local highs on GRT, you could notice that there are some quasi cycles which lasts about 25 days each. Next high could be on April 3rd (25 days from last local high).
Yeah, i am aware that there is maybe 10% chance that this scenario will come true... Only time will tell. But in other scenario, if price will break below major support + 21 SMMA + triangle, I will change my attitude to bearish.
Remember, this is not a financial advice, only my point of view (one possible scenario).
You are welcome to comment, discuss and share your opinions. Please also follow me! Good luck!