Near-term long positions are attractive, with reassessment necessary as inflation reporting in April approaches. Bullish continuation will be more risky in the days leading up to CPI/PPI reporting.
Following Bitcoin and the broader markets, GRT will realize near-term bullish support as the markets have shrugged of the Fed's 25 bps rate hike.
GRT will flip 20...
$GRT is a great project with incredible value for blockchains. Unfortunately, GRT has not been able to detach from Bitcoin's movements yet as it remains relatively new to the market.
Currently, GRT is being rejected off the 50 EMA on the daily.
Having realized an 85% retracement from ATH of $3 and seeing this historical retracement continue across...
$GRT classic double top pattern
Break below neckline followed by reversal and repeat of pattern
12 HR chart with MA Cross indicating reversal for next leg up, repeating pattern
Expected peak in late Jan/Early Feb followed by retracement then pattern repeats
Today the price saw rejection from upper dynamic resistance which is also where 200EMA is. It is now trying to defend key level (0.79) but with ETH pulling back right now it might be hard to hold. No matter what happens a bigger move is coming which should give a clearer direction for upcoming weeks.
Entry: Buy if price reaches the lower trendline(green area) ...
Another bullish pattern work in progress for $GRT (The Graph Protocol). Fundamentally, it's the Google in the blockchain space. Let's see
P.S. - If you look back, the same bullish pattern successfully reached making all-time-high price. Good luck
GRT looks like it is on the verge of another impulse wave up!! The 0.5 fib retracement on such a high timeframe is a great place to go long, and the volume on the dip has dropped significantly signalling a reversal is just around the corner.
Play it safe and wait on the weekly close for an entry, or for those with less patience check out the current 4hr chart for...
