🔥 GRT: The Big Short
Although the rest of the market is dumping, GRT is showing relative strength. My assumption is that this relative outperformance is only temporary, and GRT will go down as well in the near future.
I'm waiting for a final move up, ideally touching the top resistance of the triangle, to make an entry. Note that the triangle pattern is a bearish triangle, classically a bearish break out pattern.
Assuming we're going to see a longer period of downwards pressure, GRT can fall all the way towards the bear market lows, around 0.055, although it's wise to take partial profits and/or move the stop around the 0.11 and 0.9 levels.
I'm waiting for a final move up, ideally touching the top resistance of the triangle, to make an entry. Note that the triangle pattern is a bearish triangle, classically a bearish break out pattern.
Assuming we're going to see a longer period of downwards pressure, GRT can fall all the way towards the bear market lows, around 0.055, although it's wise to take partial profits and/or move the stop around the 0.11 and 0.9 levels.
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