In the current structure, we are still seeing lower highs and lower lows, so by definition it is still in a downtrend.
It has formed a minor trend line which it has been rejected from with decreasing volume each time.
If it breaks from this minor trend line, it will have a major trend line to break as well.
The easiest setup to look for is if it breaks through...
Brand new coin, shot up, now its finding its way back down.
We had a nice 20% bounce off the 618 fib... to which you'd expect this to bleed out until we hit the 718 fib and see another little bump.
Buy in the green box; sell a 10-20% profit IMO.
Due to Bitcoins run up our break out was denied. If this 2h candle cant close above the 0,0 Fib line I believe we will be looking for lower lows. However, if it can close above it we will then begin our Break out up and end profit goal will be 0.00003292 Before hopefully another step up or more consolidation.
GRT pulled itself out of the falling wedge on relatively modest volume, now waiting to see if it can get back into the range, increasing greatly the chance that this long setup plays out.
GRT looking anaemic right now in the face of BTC bullishness, needs to reclaim the range low at ~1680s and then we should see it punt to the highs. Next significant support at 1000-1100s, this is just below the 0.618 fib retracement.
GRT looking good consolidating under the range EQ but alts in general very shaky right now. Looking for a flip of red before considering a long to the highs and potentially beyond. Losing green would be bad obviously, but could easily lead to a new long setup if reclaimed.
