GFT: Are we in a gifting mood?
GFT, a unique cryptocurrency with a mission to revolutionize the financial landscape, was released for trading on OKX on February 8, 2023. While initial interest was short-lived, GFT soon caught the attention of traders amidst a sudden and aggressive sell-off triggered by BTC's stagnation on Sunday, 26th, 2023. Despite an 85% drop from its release price, GFT found a supportive range with an all-time low of $0.011700. On the graph, two strong downtrends are apparent, with a glimmer of hope depicted by an increase in buying presence represented by the light grey uptrend.
Technical Analysis:
Bullish Bias and Key Levels:
Currently, a bullish bias is favored for GFT's continued growth. To confirm this, a break and hold above $0.016100 and the first downtrend line are essential. Subsequently, breaking the last significant high at $0.025200 would solidify the bulls' control. However, facing resistances at $0.017320, $0.019300, and $0.022500 could indicate that sellers are still in charge, possibly leading to a retest of the $0.013200 range.
Where Do We Sit?
Confirming the Trade Idea:
Multiple confirmation signals support the bullish bias. The wave oscillator at the bottom of the graph shows a positive cross above the 20-level, indicating a shift in power. Prior to this, a flip below the 20-level suggested oversold conditions and hinted at a possible reversal. Moreover, the higher highs created by the two waves signify increasing buying power.
ROBO Advisor and Golden Cross:
ROBO is bullish on the daily, 3-hourly, and 45-minute timeframes. Additionally, a golden cross has been observed on the 3-hourly timeframe, further supporting the bullish sentiment.
GFT's potential for growth and its unique mission in the financial landscape make it an intriguing asset for traders and investors. As with any investment, it is essential to conduct thorough research, consider risk tolerance, and employ proper risk management strategies. Technical analysis offers valuable insights but should be combined with fundamental analysis and market sentiment to make well-informed decisions.
Please note that the cryptocurrency market is highly volatile, and it is crucial to exercise caution, seek professional advice, and make informed decisions based on your risk tolerance and financial goals
Technical Analysis:
Bullish Bias and Key Levels:
Currently, a bullish bias is favored for GFT's continued growth. To confirm this, a break and hold above $0.016100 and the first downtrend line are essential. Subsequently, breaking the last significant high at $0.025200 would solidify the bulls' control. However, facing resistances at $0.017320, $0.019300, and $0.022500 could indicate that sellers are still in charge, possibly leading to a retest of the $0.013200 range.
Where Do We Sit?
Confirming the Trade Idea:
Multiple confirmation signals support the bullish bias. The wave oscillator at the bottom of the graph shows a positive cross above the 20-level, indicating a shift in power. Prior to this, a flip below the 20-level suggested oversold conditions and hinted at a possible reversal. Moreover, the higher highs created by the two waves signify increasing buying power.
ROBO Advisor and Golden Cross:
ROBO is bullish on the daily, 3-hourly, and 45-minute timeframes. Additionally, a golden cross has been observed on the 3-hourly timeframe, further supporting the bullish sentiment.
GFT's potential for growth and its unique mission in the financial landscape make it an intriguing asset for traders and investors. As with any investment, it is essential to conduct thorough research, consider risk tolerance, and employ proper risk management strategies. Technical analysis offers valuable insights but should be combined with fundamental analysis and market sentiment to make well-informed decisions.
Please note that the cryptocurrency market is highly volatile, and it is crucial to exercise caution, seek professional advice, and make informed decisions based on your risk tolerance and financial goals
Comment:
Needs to break and hold the downtrend!
Comment:
My New updated Idea on GFT
Comment:
I have adjusted some Key areas or (AOI's) and also added some little grey area AOIS that may be significant sell zones.
Comment:
Hit my AOI grey box
Comment: