GRT: Target the same. Type of correction different.
The market decided to do a head fake and invalidate the a-b-c-d-e contracting triangle correction. Instead it's either a w-x-y in which the correction is over now, or an a-b-c zigzag where c needs one more leg down before resuming wave 5 of 3 which I'm still targeting $4.80 - $6.22. Looking at how BTC quickly reversed today's plunge (... at least so far), I'm favoring that the correction is over, but of course, the market has the final say. The other thing in the back of my mind is two words: Stimulus Checks!
Comment:
Well that was fun! Five waves down completes wave C, and it looks like we're moving back up nicely along with the rest of the crypto space.
Comment:
We look to be iin great shape for the next run up. The whole crypto space looks good actually. I had some concern for Ethereum a couple days ago because of 5 waves down, but it completed 3 waves up followed by another 5 waves down to complete its correction. And all hail Cardano, it does an ATH while everyone else was correcting. Sorry that this comment was more than just about GRT, but a rising tide lifts all boats.
Comment:
GRT looks ready for an upside push and both bellwether cryptos Bitcoin and Ethereum look great. Both the stock and crypto markets are anticipating the rollout of the stimulus checks. The Feb 23 low looks to be the end of the correction. GRT is moving impulsively upwards albeit cautiously.
