💎 GRT has recently demonstrated noteworthy market dynamics, seemingly breaking out of the major cup and handle pattern, a reversal pattern indicating bullish momentum.
💎 However, for further confirmation, GRT needs to break above the bearish OB + supply area. A successful breakout from this zone could lead to a significant upward movement, probability signaling a bullish trend.
💎 Conversely, if GRT fails to break above and experiences rejection, there is potential for the price to retreat downwards towards the support area, which previously acted as resistance at the neckline of the CNH pattern.
💎 The support area holds significant importance, as a failure to maintain price above this level could invalidate the pattern, potentially leading to a reversal back into a downward trend. This could result in further decline towards the demand area, or possibly even lower levels.