sebastian.seliga.7
Long

GOLEM #GNTBTC - rising wedge pattern will bring 100% profit?

BITTREX:GNTBTC   Golem / Bitcoin
ELLIOTT WAVE TECHNICAL ANALYSIS:

At a weekly interval , including larger cycles, it is difficult to distinguish pulse waves. Therefore, the current counter is based on wave increases (A), with a high at 29629 and a complex wave correction in the wave (B), with a low at 1604.



Starting from this low, five impulse growth waves with a high at the level of 9,000 can be determined, followed by a complex downward correction WXYXZ, which lifted 61% of the growth impulse. The level of 61% Fibo at 4574 is an important level of support, because the corrective cycle in the wave (2)might soon end near this region. Not only that, the whole downward descent has a clear wedge character, and the breaking out from this wedge can bring, among others, 100% profit (if the local peak is hit at 9,000).

It is worth to observe this cryptocurrency and wait for the potential knock out of the wedge .

TREND and IMPORTANT LEVELS:

Main trend: DOWN

Intermediate trend: DOWN

Daily trend: UP / NEUTRAL (correction after the end of the growth cycle and possible breakout from the wedge after correction)

KEY LEVELS:

- for further increases - level 5247

- for the continuation of the correction - level 4374

- for the continuation of the decrease - level 4374

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Comment: Let's finish it MR.Golem and do higher! :)
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GNT now looks pretty well. any updates?)
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we are tuned in! btc is however falling dismally. ETH pair?
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