The major spike:
If we watch on the weekly chart then GRS was moving in a . And on the that was started on the 4th May 2020 it was trying to break down the support. But soon in the second week of May 2020 it started the rally up to more than 80% from the lowest point up to the highest point.
All indicators gave clear signals before the rally:
Before the rally almost all indicators gave very obviously signals. For example I have used the combination of five indicators to determine the rally. Then it can be easily observed that on 8th May the moving average convergence divergence ( ) indicator started turning and the gave bull cross from oversold zone. Then on 12th May the momentum was started changing from to and finally we received a signal by the indicator as well because the positive directional indicator ( ) crossed up the negative directional indicator on 22nd May and then we have witnessed a powerful upward move.
The SMAs are turning bullish:
If we place the simple moving averages with the time period of 25, 50, 100 and 200. Then it can be easily observed that after the strong rally the price action has crossed up all the moving averages. At this time the price action of GRS is crossing up the 200 . This time the smallest time period moving average 25 is crossing the 50 and the biggest time period moving average with the time period of 200 is above all other moving averages. Once the smallest moving average will be moved above all other moving averages and the biggest time period moving average will be moved below all the other moving averages then a complete opened mouth can be formed by the SMAs that can trigger more powerful move. And before the alligator’s mouth formation we can observe another move when the 50 will be crossing up the 200 . Because this golden cross is considered as a powerful buying signal among the traders community and this bull cross between the two moving averages will be a big invitation to the traders to buy GRS.
Harmonic moves with continuation:
Now let’s move to my favorite part of the analyses and that is the moves by the price action of GRS. If we switch to the long-term weekly chart then it can be easily seen that the price action is continuously forming different and all these patterns are . For example 1st the price action formed a pattern and for the completion of final leg it produced more than 1700% rally. Then price action started the formation of pattern and while completing the final leg of this the price action produced more than 600% rally.
At this time the price action is forming another pattern. The formation of this pattern was started from the that was started on 23rd April 2018. And after the completion of initial leg the price action retraced up to 0.618 Fibonacci level. And this was the first confirmation of . Then B to C leg is projected between 1.13 upto 1.618 and this is the second confirmation of . You can observe that on the chart I have placed the pattern up to 1.618 Fib level, but this level is in negative zone therefore it will be not possible for the priceline to enter in the negative zone. I have just placed the pattern up to this level only for educational purpose to show you the perfection of this pattern. However the priceline has found a strong support at 0.00001751 sats . Therefore the potential can be up to this level. Now as per Fibonacci sequence of . The priceline should move between 0.886 up to 1.13 level. And once this leg will be completed then in it can produce up to 1650% big rally. However as per Fibonacci sequence of I have also defined some secure targets as well. The complete buying and sell targets as per Fibonacci sequence are as below:
0.00003480 to 0.00001751 sats
Secure sell target zone:
0.00008636 to 0.0001591 sats
Aggressive target sell zone (Upto the completion of shark's leg)
0.0002541 to 0.0003096 sats
As previous history of GRS it is very easy for the price action to complete the formation of another and that is almost formed. However it is not confirmed that this strong move will be started before the testnet release that is announced by the GRS team.