GRT - token that can go up 40% in 1 day and dump 40% the second. Currently I am watching 2 possible scenarios unfold (I know, what a genius).
I am leaning towards #1 end point but will change my mind if we decisively bounce of the dashed yellow resistance line then go above the descending channel and retest by bouncing off it. If we go this route then I will expect a move to $.50. Breaking out with having a heavy lid like that seems less likely to me. Maybe 35% chance. Break out would most likely happen via a right shoulder (inverse) build up. It could take days and drag. If I start seeing a shoulder like pattern I will start getting a bit more bullish.
However, we are all very familiar with rising wedges and GRTs love with wedges. I am giving it a 65% probability we will break down towards $.2 level. We had a powerful move off recent lows but that move didn't carry us higher
PS: I am sour about GRT so take this with a grain of salt. I had very high hopes for this token and I think this was a classic pump and dump scenario that I got sucked into
I am leaning towards #1 end point but will change my mind if we decisively bounce of the dashed yellow resistance line then go above the descending channel and retest by bouncing off it. If we go this route then I will expect a move to $.50. Breaking out with having a heavy lid like that seems less likely to me. Maybe 35% chance. Break out would most likely happen via a right shoulder (inverse) build up. It could take days and drag. If I start seeing a shoulder like pattern I will start getting a bit more bullish.
However, we are all very familiar with rising wedges and GRTs love with wedges. I am giving it a 65% probability we will break down towards $.2 level. We had a powerful move off recent lows but that move didn't carry us higher
PS: I am sour about GRT so take this with a grain of salt. I had very high hopes for this token and I think this was a classic pump and dump scenario that I got sucked into
