Previous TA still holds, but might soon be time to buy little
Hello hello,
The previous TA (Technical Analysis) is still valid, with the exception of the triangle, and I have updated that one to reflect the current trend line better.
Short summary of pointer:
Conclusion
Personally, and this is not a financial advice, I am now starting to trust the support line more and that the near future price has a high probability of staying within some margin of current price. This is telling me that there is less risk if I were to buy a small bag now.
So, I am going to search the internet for some possible news coming to GRT that will give a bump and keep a watchful eye on the momentum indicators on GRT this week.
If the indicator are strengthening, I will buy to hold.
If it is not strengthening, but keeping "as is", I will buy a small bag just to have entered the market.
If the indicator are showing weakness, I will of course hold.
PS
Cryptocurrencies are correlated with the stock exchange and financial market, especially now that large companies are investing.
Therefore, the price action of any crypto is not only connected to its community, news, tech and interest, but overall stock market and gold and general volatility in the market.
It is a theory that large companies and inst. companies, are and will use cryptocurrencies to hedge both the stock market and the currencies (FIAT).
That is why it is crucial that you take these things into consideration before buying or selling after a TA.
The previous TA (Technical Analysis) is still valid, with the exception of the triangle, and I have updated that one to reflect the current trend line better.
Short summary of pointer:
- The support line in blue has been proven and tested to hold, which is good. It means that this is an important support line now, and will be in the future as well.
- The resistant line did not break into support, meaning the momentum is not strong enough; yet! Again, it proves the current resistant line is strong and valid, and that it will act as a good support if broken.
- Price is still hugging the support line, which is not comforting as it has no buffer to move before breaking the support.
Conclusion
Personally, and this is not a financial advice, I am now starting to trust the support line more and that the near future price has a high probability of staying within some margin of current price. This is telling me that there is less risk if I were to buy a small bag now.
So, I am going to search the internet for some possible news coming to GRT that will give a bump and keep a watchful eye on the momentum indicators on GRT this week.
If the indicator are strengthening, I will buy to hold.
If it is not strengthening, but keeping "as is", I will buy a small bag just to have entered the market.
If the indicator are showing weakness, I will of course hold.
PS
Cryptocurrencies are correlated with the stock exchange and financial market, especially now that large companies are investing.
Therefore, the price action of any crypto is not only connected to its community, news, tech and interest, but overall stock market and gold and general volatility in the market.
It is a theory that large companies and inst. companies, are and will use cryptocurrencies to hedge both the stock market and the currencies (FIAT).
That is why it is crucial that you take these things into consideration before buying or selling after a TA.