Hi!
We have seen GRINBTC in a correctional stage for a few weeks, forming a 5-3-5 Zigzag correction, being now in the last wave of the correctional phase. Yesterday GRINBTC has bounced off the monthly resistance line just to give it away again quickly. This is an indication that the market wants to go lower and we might see a drop all the way down to form a double bottom on the monthly chart.
It is advisable to wait for a confirmation of the breakout from the trend-line by using different time-frames and to play the market before the instrument itself.
If you would like to learn more about technical analyses please visit George Beaulieu on Youtube and leave a like.
Lots of patience to you all and thanks for reading.
-heish
We have seen GRINBTC in a correctional stage for a few weeks, forming a 5-3-5 Zigzag correction, being now in the last wave of the correctional phase. Yesterday GRINBTC has bounced off the monthly resistance line just to give it away again quickly. This is an indication that the market wants to go lower and we might see a drop all the way down to form a double bottom on the monthly chart.
It is advisable to wait for a confirmation of the breakout from the trend-line by using different time-frames and to play the market before the instrument itself.
If you would like to learn more about technical analyses please visit George Beaulieu on Youtube and leave a like.
Lots of patience to you all and thanks for reading.
-heish