Take a closer look at GTC. What await us? H&S or double bottom?
Hello friends! Let's consider two possible price movement scenarios for the GTC cryptocurrency.
Scenario #1. On the daily timeframe, an inverse head and shoulders pattern is forming. The main factor for its formation is the global support area around ~1.76$. Generally, buying the asset after testing and bouncing off this level and further selling in small parts up to ~2.46$ can be considered. There are three Fibonacci targets. After breaking the neckline, a rise to ~3.8$ can be expected.
Scenario #2. Formation of a double bottom technical pattern.
If the global support level is broken, the price will move towards ~1.43$-1.52$ per coin. After reaching this level, an upward recovery movement can be expected. The selling targets remain the same as in scenario #1.
This is not a financial recommendation, everything you do, you do at your own risk.
Scenario #1. On the daily timeframe, an inverse head and shoulders pattern is forming. The main factor for its formation is the global support area around ~1.76$. Generally, buying the asset after testing and bouncing off this level and further selling in small parts up to ~2.46$ can be considered. There are three Fibonacci targets. After breaking the neckline, a rise to ~3.8$ can be expected.
Scenario #2. Formation of a double bottom technical pattern.
If the global support level is broken, the price will move towards ~1.43$-1.52$ per coin. After reaching this level, an upward recovery movement can be expected. The selling targets remain the same as in scenario #1.
This is not a financial recommendation, everything you do, you do at your own risk.
Comment:
Testing support zone